The Government kept its foot on the brake on the internal price of fuels and assumed an additional cost of RD$1,080 million to keep the price of hydrocarbons unchanged for another week.
With the new subsidy granted by the Government, the amount granted from March 4 to the next day 15 amounts to RD$24,770 million.
A statement from the Ministry of Industry, Commerce and MSMEs, attributed to the Vice Minister of Internal Trade, indicates that “the Dominican government reported this Friday that it maintains the prices of hydrocarbons unchanged at the level of March 4 of this year, for which they have destined, only this week, an extraordinary subsidy of 1,080 million pesos.
The explanation
He explained that the international price of WTI, a reference for our market, averaged US$104.40, for a new decrease, compared to last week, of 3.9%, which is moderately encouraging news.
The deputy minister also highlighted that the annual increase continues to be over 37.2%, mainly caused by the war in Ukraine, lasting more than 4 months, which hits the market, not only fuels, but also food, creating an unforeseen scenario. and hard on the world’s economies.
Pérez said that with this extraordinary subsidy, the government assumes 100% of the increases again, avoiding increases in LPG, for 5.14 pesos per gallon; in Premium Gasoline for more than 62 pesos; in the Regular for more than 70; in Regular Diesel for almost 82 pesos and Optimal for about 87 pesos per gallon.
It was expected that, since the four-month period of the extraordinary subsidy program ended on the 7th, without changing the international panorama of oil prices, the Dominican Government would assume only part of the increases that occurred in the price of oil. hydrocarbons. The program was for a period of four months, which was completed last Wednesday.
Without referring to the expiration of the term, the Government decided to assume all of the increases, at least for one more week. For the week from today to Friday the 15th, fuel prices will remain at the following levels:
Premium gasoline will be sold at RD$293.60 per gallon, regular type at RD$274.50, regular diesel at RD$221.60 and optimal type at RD$241.10. Likewise, a gallon of avtur remains at RD$298.91, kerosene at RD$338.10, fuel oil #6 at RD$192.11 and fuel oil 1%S at RD$211.77. Liquefied petroleum gas (LPG) continues at RD$147.60 per gallon and natural gas at RD$28.97 per cubic meter.
To calculate the prices, the Ministry of Industry, Commerce and MSMEs used an average exchange rate of RD$54.92 per dollar, calculated from the daily publications of the Central Bank.
Yesterday, the price of Texas Intermediate Oil (WTI) rose 2% to close at $104.79 ending a week of high volatility that was marked by bearish fears of a recession and bullish fears of weak demand. At the close of trading on the New York Mercantile Exchange (Nymex), WTI futures contracts for August delivery gained $2.06 from the previous close.
