Keeping its foot on the fuel price brake pedal will cost the Government RD$1,471 million, to keep the internal price of hydrocarbons unchanged for one more week.
With the new subsidy, the fiscal sacrifice assumed by the Government since it decided in March to leave hydrocarbon prices unchanged, at the level of the 4th of that month, amounts to RD$23,690 million.
The new subsidy keeps the price of hydrocarbons unchanged in the domestic market during the week of July 2 to 8.
The Vice Minister of Internal Trade of the Ministry of Industry, Commerce and MSMEs, Ramón Pérez Fermín, reported on the impact of fuel markets globally and its impact on the Dominican Republic.
“As of Wednesday, June 29, 2022, the international price of WTI averaged US$108.60, for a decrease of 2.9 percent in relation to the average of the previous week, which amounted to US$111.87,” he said.
He also highlighted that WTI has had an accumulated increase so far this year 2022 of 41.1%.
“Although many thought that the war in Ukraine would be short, it is already four months old, which complicates the economic outlook, particularly in relation to hydrocarbons.”
Although the average price fell slightly, fuels continue to exert enormous economic pressure due to dramatic increases at a global level, which has led the government of President Luis Abinader to once again assume 100% of said increases at a cost of 1,471 million pesos. said the MICM in a press release. He added that for this week, with this subsidy, the Government is preventing LPG from increasing 6.06 pesos per gallon; Premium gasoline was prevented from increasing by RD$78.19, regular gasoline by RD$86.96, regular diesel oil was avoided an increase of RD$108.38 and optimal diesel by about RD$111.45.
From today until next Friday, July 8, 2022, the Ministry of Industry, Commerce and MiPymes provides that fuels be marketed at the following prices:
Premium gasoline remains at RD$293.60 per gallon, regular gasoline will continue to be priced at RD$274.50 per gallon, while the two types of diesel will continue at RD$221.60 for regular and RD$241.10 for optimal. Likewise, a gallon of avtur remains at RD$298.91 and kerosene at RD$338.10. Fuel oil #6 continues at RD$192.11 per gallon and fuel oil 1%S maintained its price at RD$211.77 per gallon.
LPG and natural gas maintain their prices
Likewise, liquefied petroleum gas (LPG) kept its price at RD$147.60 per gallon and Natural Gas, which is not a petroleum derivative, kept its price at RD$28.97 per cubic meter. The average exchange rate used by the MICM to estimate the prices at which the hydrocarbons should have been sold and the value of the subsidy assumed by the Government was RD$54.73 taken from the daily publications of the Central Bank.
