KRALENDIJK – As of January 1, 2024, the regulations of the Temporary Decree of March 25, 2022, regarding the excise duty reduction in Caribbean Netherlands 2022, will expire, ending the reduced excise duty rate for gasoline.

According to the aforementioned regulations, the excise duty rate for gasoline was $15.86 per hectoliter for the period from April 1, 2022, to June 30, 2023. From July 1, 2023, to December 31, 2023, the excise duty rate was $23.86 per hectoliter. 

The Kingdom Government has not incorporated the excise duty reduction into the Tax Plan BES 2024, causing the excise duty rate for gasoline to revert to $31.86 per hectoliter as of January 1, 2024. This results in an 8-cent increase in gasoline prices starting January 1, 2024, while all other prices remain unchanged. 

The next regular fuel price adjustment is scheduled for January 12, 2024.