The tariffs for the regulated fuel products are composed from various components in accordance with the Tariff Guideline. For each of the components a short explanation follows below:

• Purchase price: weighted average based on the purchase invoices from Curoil
• Import Duty: import duty to be levied on the concerned commodities
• Fuel supply guarantee: coverage of the necessary operational costs of the refinery for the fuel distribution in Curaçao
• Margin Curoil: the wholesale margin for each unit of fuel sold
• Excise Tax: the excise tax determined by the government (is only levied on Mogas 95)
• Turnover Tax: turnover tax of 6% for wholesale and retail
• Surplus/Shortage: adjustment of the purchase price based on actual figures
• Cross-subsidy: cross-subsidizing, if any, if applied
• Dealer margin: the retail margin for each unit of fuel sold
• End user tariff: Added sum total of the above-mentioned items

The purchase price, which marks the basis of the calculation, is determined monthly for the next month based on the available fuel supply at the end of the previous month. If the supply inventory information provided by Curoil is unavailable, this information is based on recent international price quotations. These purchase prices are also assessed against international price quotations. Because of this delay the differences between regulated purchase price and actual purchase price in a specific month are settled through the element of Surplus/Shortage.

Aside from the tax components there are also the components Margin Curoil and Dealer Margin that in principle are reviewed once every 3 years (with the option of a mid-term review).

The various components the tariffs for regulated fuels consist of have been displayed in the table below to further illustrate the tariff composition and which tariff algorithm is applied to determine the price.