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Suriname: Walden: “Fuel price strongly dependent on world market price”

The world market price for fuel and the transport costs to Suriname cause differences in pump prices. The Ministry of Economic Affairs, Entrepreneurship and Technological Innovation (EZ) can exert little influence on the setting of the price, since it is strongly dependent on the world market price, says Minister Saskia Walden.

To determine the fuel price per liter, a number of factors must be considered. First, one looks at what the importers have paid for the product (CIF price). In addition, matters such as the profit margin and the government take are involved. For example, if the importer bought the fuel for a US dollar cent more expensive, this will also be noticeable at the pump.

It should also be borne in mind that fuel is purchased at a rate of SRD 14.29 for an American dollar. A difference of two cents per liter already gives a difference of SRD 0.30 at the pump. The oil company indicates the cost price for each load.

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