The Government increased between one and five pesos on fuel, but before taking this measure –according to Industry and Commerce- it accumulated debts with importers for RD$1,438.6 million in five weeks, plus 500 million yesterday.
It involved itself in these debt commitments, which total RD$1,938.6 million, so as not to completely pass on to consumers the rises registered in fuels, pushed in turn by the increase in oil in international markets, especially Texas crude, from reference for the Dominican case.
The oil barrel closed the day on Friday with a rise of 2.3%, reaching 92.31 dollars, which represents a weekly revaluation of more than 6%. According to data at the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in the month of March added 2.4 dollars compared to the close of the previous session.
The US reference oil has shot up to a maximum price not seen since 2014 due to the risk posed by the drop in temperatures in the state of Texas, where many producers are concentrated.
the hikes
At the local level, the gallon of premium gasoline will be sold to the public at RD$287.60, for an increase of RD$4.00, and that of regular gasoline at RD$270.50, for an increase of RD$4.00 per gallon.
Optimum diesel will rise by RD$3.00 and will be sold to the consumer at RD$236.10, while regular diesel will be offered at RD$217.60, for an increase of RD$5.00. Avtur will be shipped at RD$198.98 per gallon, up RD$4.60, Kerosene at RD$227.60 per gallon, up RD$4.00. And fuel Oil #6a RD$162.95 per gallon, rises RD$4.00. In the case of fuel Oil 1%S, it will cost RD$180.29, for an increase of RD$4.00.
Liquefied Petroleum Gas (LPG) will be sold at RD$147.60 per gallon, for an increase of RD$1.00, and Natural Gas at RD$28.97 per cubic meter. It keeps its price.
In the week between January 1 and 7, the Government assumed debts for RD$191.6 million, in the week of January 8 to 14 debt commitments for RD$222 million, and from January 15 to 21 other debts for RD$290 million, according to weekly reports from the Ministry of Industry, Commerce and Mipymes. Subsequently, from January 22 to 28, the debts totaled RD$335 million, and from January 29 to February 4 for RD$400 million.
How dangerous it would be to see 100 a barrel of oil
For the week between this Saturday, February 5 and 11, 2022, the debts assumed with fuel importers are for RD$500 million.
The Vice Minister of Internal Commerce of the Ministry of Industry and Commerce, Ramón Pérez Fermín, explained that “with a barrel of oil at US$94, a record not seen in more than ten years, the pressure that this exerts on fuels at the local level is dramatic”. In addition, he called it worrying that oil prices are rapidly approaching the US$100 a barrel barrier. Pérez Fermín explained that the Dominican Government will absorb a large part of the increases.
