Aruba is best known for its tourism credentials, however, Aruba gasoline prices gained international attention when CNNMoney erroneasly stated that Aruba had over $10 a gallon gasoline prices at the height of oil prices back in 2008.
The purpose of this website is to prevent similar errors from happening again and to have a place where the figures can be studied.
Officials at the Department of Economic Affairs (DoEA) meet twice a month with all the stakeholders (except consumers) to talk about the prices.
DoEA: "As a base for the calculations, the quoted prices of the US Gulf Coast are employed as published in the Platt's Oil gram." DoEA stipulates the current retail fuel prices for the consumers by publishing it every second Wednesday of the month in local newspapers.
The DoEA calculates the retail prices each month to the adjusted international quoted prices by using a specific structure to determine the prices.
This "specific structure" is closely guarded from consumers, as we do not know the exact details on how the prices come to be.
Details like profit margins are also off limits and are dubbed "sensitive information". Taxes play also a very big part of the price structure.
This is what we know: Valero Aruba Refinery imports fuel and calculates the price first hand. The calculation includes the cost of import, distribution and profit margins. Following, the gasoline stations add their profit margins, where at the end the government adds its taxes.
There are only two gasoline distribution companies on Aruba: Valero and Texaco. All gasoline stations in Aruba sell exclusively unleaded gasoline and gas-oil (diesel) and are supplied by Valero Aruba Refinery (Valero closed partially), including Texaco gas stations.
Tank stations are only allowed to change prices once a month. All gasoline stations, regardless the company, have the same gasoline price.
Gasoline prices are NOT posted on boards like in the US and Europe. In Aruba all gasoline prices are in Aruba florins per liters.