Fuel prices remain the same

for the week of November 19 to 25 of this 2022 the prices of all fuels will remain unchanged by provision of the Ministry of Industry, Commerce and MSMEs (MICM), due to the accumulated increase of 20 % of the Petroleum of Texas, which led the Government to maintain the subsidy.

“2022 is six weeks away from concluding, a year in which the WTI (Texas crude oil price) continues to maintain a cumulative increase, record prices in the last 15 years”, reported Industry and Commerce. He added that it is for this reason that 233 million pesos will be allocated so that prices do not reflect the rise.

The Vice Minister of Internal Commerce, Ramon Perez Ferminindicated that the government will give the subsidy to fuels. “We have seen prices stratospheric prices of up to 130 dollars, record prices in the last 15 years and what is worse, this 2022 has been the year of the highest prices in the history of crude oil”.

Given this context, the vice minister highlighted that “the government of President Luis Abinader has been week after week, through an extraordinary effort, channeling the money that belongs to all of us, subsidizing the fuels”.

Pérez Fermín explained that in the case of this week the international price of WTI averaged $86.76 the barrel.

He specified that among the issues that impact the rise in prices, the concerns of supply, after USA report better economic growth in the third quarter.

He also recalled the impact produced by the war in Ukrainewhich is already nine months old and its well-known consequences in the markets, especially agricultural and energy markets.

He maintained that, despite all the international uncertainty, the government maintains a politics of subsidy to neutralize these increases and thus avoid a greater impact on the pocket of the Dominicans.