Until September 2024, approximately 18,849.5 million pesos have been transferred to the economic agents in the form of subsidieswith the aim of mitigating the impact of the general increase in prices.
Within the framework of the Macroeconomic Situation Report published on October 28, 2024 by the Ministry of Economy, Planning and Development (Mepyd), it is highlighted that, of this total sum, 78.6% has been allocated to subsidies for the fuelswhile 12.3% have gone to the public transport.
Likewise, food has received 7.1% of these transfers, and 2.0% has been allocated to counteract the increase in food prices. fertilizers. Compared to the same period of the previous year, transfers intended to mitigate inflation have shown a growth of 70.6%.
Between January and September 2024, the subsidy intended for the fuels reached 14,815.8 million pesos, which represents an increase of 3,523 million compared to what was allocated in 2023.
Every Friday, the Ministry of Industry, Commerce and MSMEs (MICM) announces the update of the prices of the fuelsas well as the amount of resources that will be allocated to your subsidy. According to announcements made in October 2024, the government allocated approximately 820 million pesos to subsidize the prices of fuels.
On November 1, 2024, the MICM reported that the government allocated nearly 183.5 million pesos to avoid the rise in fuel prices during the week of November 2 to 8.
Last Friday, the Vice Minister of Industry, Commerce and MSMEs, Ramón Pérez Fermín, reported that the government of President Luis Abinader had a subsidy of nearly 230 million pesos to maintain the stability of the prices.
Subsidies 2023
In 2023, the government allocated 11,292.8 million pesos to subsidize the prices of the fuelswhich constitutes a significant reduction compared to the 35,069.6 million pesos allocated in 2022.
In the Dominican Republic, various types of fuelincluding premium and regular gasoline, regular diesel, optimal diesel, avtur, kerosene, #6 fuel oil, 1%S fuel oil, liquefied petroleum gas (LPG) and natural gas.
New prices fuels
According to the MICMfor the week of November 9 to 15, 2024, the fuels that their prices will vary are: the avtur se (191.50 pesos per gallon), rises 5.83 pesos; Kerosene (221.10 pesos per gallon), rises 6.60 pesos; Fuel Oil #6 (156.36 pesos per gallon) drops 2.31 pesos, and fuel oil 1%S (171.75 pesos per gallon) rises 3.71 pesos.
