The prices of all fuels will remain unchanged for three weeks in a row. This time, thanks to the fact that the Government, he reported, will allocate some RD$610 million to contain the increases that put pressure on the local hydrocarbon market.
And these increases are in turn pushed by the movement in the price of oil, which this week traded at an average of US$92.83 per barrel.
Ramón Pérez Fermín, Vice Minister of Internal Commerce of the MICM, calculated that, if the increases were transferred directly, for this week the price of liquefied petroleum gas would have increased by more than RD$15 pesos per gallon, while premium gasoline should have increased by more than RD$20. pesos per gallon and regular gasoline, more than RD$27 per gallon, according to projected increases. As for regular diesel, it must have increased by almost RD$40 pesos per gallon and optimal diesel approximately RD$30 pesos per gallon.
He said that “the Government has tightened more in budgetary terms, reviewing public spending to have funds available to alleviate the burden of hydrocarbons and prevent this from having a greater impact on the pockets of all citizens.”
For the week of February 19 to 25, 2022, the MICM provides that fuels be sold at the following prices: Premium Gasoline will be sold at RD$287.60 per gallon; Regular gasoline RD$270.50 per gallon; Regular diesel RD$217.60 per gallon, Optimal diesel RD$236.10 per gallon, avtur RD$198.98 per gallon, kerosene RD$227.60 per gallon, fuel Oil #6 RD$162.95 per gallon, fuel Oil 1%S RD$180.29 per gallon and Liquefied Petroleum Gas (LPG) RD$147.60 per gallon.
According to the Government spokesman, Homero Figueroa, the economic resources that the Government has made available so far this year to contain the rise in fuel prices total RD$3.1 billion. The authorities have said that they do so to burden consumers as little as possible with the sharp increases that would occur, in case that is not “cushioned”.
The average weekly exchange rate is RD$57.14 from the Central Bank’s daily publications.
The Ministry of Industry, Commerce and Mipymes, explained in a press document that the increases in the international market for West Texas Intermediate exceed the values registered in a decade and that the reserves in the United States and the level of production of OPEC, as well such as the tension on the border between Ukraine and Russia have caused the barrel of oil to hover over US$100.
Texas oil falls 0.8% and closes at 91.07
The price of Texas Intermediate Oil (WTI) closed yesterday with a decrease of 0.8%, to 91.07 dollars a barrel, and a loss of value of 2% weekly. WTI futures contracts for delivery in March subtracted 0.69 dollars from the previous close, according to data at the end of operations on the New York Mercantile Exchange (Nymex).
Benchmark oil in the United States fell slightly.
