¿Por qué ha sorprendido apreciación del peso RD?

Fuels: The Three Kings Day gift from the Government?

The Ministry of Industry and Commerce announced this Friday that it invested 462 million pesos in subsidies to counteract increases in hydrocarbon prices.⁣⁣

The fuel prices for the week of January 7 to 13, 2023 will be as follows:

  • Premium gasoline will be sold RD$293.60 per gallon
  • Regular Gasoline RD$274.50 per gallon
  • Regular Diesel RD$221.60 per gallon
  • Optimum Diesel RD$241.10 per gallon
  • Liquefied Petroleum Gas (LPG) RD$147.60 per gallon
  • Natural Gas RD$28.97 per m3

The weekly average exchange rate is RD$56.30 from the daily publications of the Central Bank.

fuel prices

The Vice Minister of Internal Commerce, Ramón Pérez Fermin, reported this Friday that the prices of all fuels for domestic use will be frozen again and that the government will allocate 462 million pesos to stop increases in optimal and regular diesel for more than 54 pesos.

Read more: Fuel prices remain unchanged

“The moment is propitious to put into perspective the effort made by the government of President Luis Abinader, in terms of hydrocarbons; during the last 4 months of 2020, 325 million pesos were allocated, in 2021 the amount of the subsidies amounted to 15,600 million pesos, but the efforts of this management to mitigate the impact of the increases did not stop and by 2022 they managed more than 36,500 million, an unprecedented figure for such purposes,” said Pérez Fermin.

He said that for this week, from January 7 to 13, the government will once again assume a sacrifice of 462 million to avoid increases of up to 54 pesos, mainly in optimal and regular diesel, this because the aforementioned products maintain a significant difference in relation to the price of crude oil since the beginning of the war between Russia and Ukraine, this has limited local prices from falling at the same rate that crude oil has fallen.

«Without a doubt time has proved us right. The aforementioned measures translate into widespread stability that has made the Dominican Republic a regional model, being a benchmark in crisis management, having contained the cumulative increase in inflation between January and November 2022 in just one year. 6.8%, according to the Central Bank,” added the vice minister.

About Three Kings Day

Legend has it, as part of the Catholic tradition throughout the world, that it was three wise men who visited a newborn Jesus in Belen. They went to worship him and left him three presents. Said history transcended to the degree that every year the Three Wise Men visit the children leaving them gifts.

However, according to the New Testament, they were not three people, nor were they kings, nor were they magical. In it gospel of matthewsecond chapter —in which said anecdote is found— the specific number of visitors is not mentioned, nor are their names mentioned.

Likewise, it is not mentioned that they were kings, but that they were about wise men (either wizards) from the east. And it is that, according to the translation of the Hebrew, magician was used to refer to those dedicated to the study, for example, of the astronomy.

You might be interested in reading: Hundreds of children attend the traditional tour with the Three Wise Men

“When Jesus was born in Judean Bethlehem King Herod, wise men came from the east to Jerusalem saying ‘Where is the king of the Jews who has been born? For we have seen his star in the east, and we have come to worship him’”, reads the first two verses of the second chapter of the Gospel of Matthew.

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