Sunday, March 27, 2011

Gas goes up on Sunday

PHILIPSBURG--The price of unleaded gasoline increase on Sunday, March 6, from the current NAf. 2.17 to NAf. 2.25 per litre, and diesel fuel from the current NAf. 1.98 to NAf. 2.04 guilder cents per litre, according to Minister Economic Affairs, Transport and Telecommunications Franklin Meyers.

Gas prices across the Caribbean region are also on the rise. The current unrest in North Africa has sent prices soaring in all transportation areas. Gasoline has climbed more than US $0.29 per gallon in the United States since the uprising in Libya began in the middle of February, costing Americans an extra $108 million per day to buy the same amount of fuel.

Prices fluctuate on a daily basis on the oil traders market. Global prices reached a two-year high earlier this week, sending prices of oil higher than $100 per barrel. This is significantly more than the $84 per barrel back in December. The International Air Transport Association (IATA) has trimmed its forecast for airlines' net profit this year due to the soaring cost of fuel.

Airlines have already started to increase fuel surcharges to passengers, and some have warned they may also raise basic fares or be forced to cut capacity.

Source: http://www.thedailyherald.com/islands/1-islands-news/14468-gas-goes-up-on-sunday.html

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