El Caribe

Government breaks a 4-week streak and raises fuel

Fuel prices rose this week.

The Government ordered an increase in the price of all liquid fuels for the week of March 5 to 11, leaving the cost of liquefied petroleum gas and natural gas unchanged.

In this way, it leaves behind what was done for four weeks in a row, when the price of crude derivatives had remained without movement.

Premium gasoline will be sold at RD$293.60 per gallon, up RD$6.00, and regular gasoline at RD$274.50 per gallon, up RD$4.00, and regular diesel at RD$221.60 per gallon, for an increase of RD$4.00.

Meanwhile, optimal diesel is priced at RD$241.10 per gallon, with an increase of RD$5.00, avtur will be sold at RD$209.68 per gallon, with an increase of RD$10.70, and kerosene at RD$238.30 per gallon, with an increase of RD$10.70.

In the case of Fuel Oil #6, the price is RD$164.89 per gallon, with an increase of RD$1.94, and Fuel Oil 1%S will be offered at RD$187.04 per gallon. Go up RD$6.75.

For liquefied petroleum gas (LPG) the price is RD$147.60 per gallon, it maintains its price.

Natural gas will be dispatched at RD$28.97 per cubic meter, maintaining its price. The average weekly exchange rate is RD$54.91 from the daily publications of the Central Bank.

The Ministry of Industry, Commerce and MSMEs, in the introductory part of the document that explains the reason for the increases in fuels at the local level, argued that “the war between Russia and Ukraine has raised the cost of oil to historical levels, trading above US$116, prices not seen in the last 15 years, pushing up fuels in the local market, for which the government will raise premium and regular gasoline, optimal and regular diesel, only LPG and natural gas will maintain its price.

He indicated that to deal with these increases, the Dominican government has earmarked RD$615 billion this week alone so as not to fully transfer the impact of this crisis to the citizens. The Vice Minister of Internal Trade, Ramón Pérez Fermín, explained that “if we did not intervene at all, we would have suffered increases of between 20 and almost 40 pesos in the different fuels.” And he added: “As you can see, it is a deeply adverse moment.”

The reference

On Friday, the price of Texas intermediate oil (WTI) closed with a rise of 7.4% and stood at 115.68 dollars a barrel, pressured by the escalation of tension in the Ukraine war, according to a report from the EFE news agency.

Ito is occupied and concerned about the subject every Friday

On February 23, the Minister of Industry, Commerce and MSMEs, Victor -Ito- Bisonó, recognized that the issue of fuels is becoming worrying, that he occupies it every Friday and stressed that it is a global issue that seems It’s not going to be resolved quickly.

And it will not be resolved soon because there are different aspects, as the official warned in an activity of the American Chamber of Commerce.

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