The government announced that it maintained the extraordinary subsidy for hydrocarbons, allocating this time RD$1,631 million, to avoid dramatic increases in the local market.
It was the second week after the President’s announcement that the economic cabinet would be convened to deal with the issue of increases in crude oil and the permanence of subsidies.
With the new amount, slightly lower than the historical RD$1,765 million of last week, the accumulated fiscal sacrifice assumed by the Government since March 7 amounts to RD$22,219 million.
The Vice Minister of Internal Trade, Ramón Pérez Fermín, said that “the government of President Luis Abinader once again assumes an extraordinary sacrifice to prevent the increases from impacting Dominicans, at a cost of 1,631 million pesos. With this, we stop the increases in LPG of more than 5 pesos per gallon; of premium gasoline for more than 80 pesos per gallon; of the regular for almost 90 pesos; of regular diesel of more than 125 pesos per gallon; and optimal diesel of almost 125 pesos per gallon”, said Pérez Fermín.
Oil Behavior
Vice Minister Pérez Fermín explained that the international price of WTI averaged 111.87 dollars, for a significant decrease of 6.4% in relation to the average of the previous week, which amounted to US$119.47. He explained that the accumulated increase continues to rise in the year and is around 44%.
For the week of June 24 to July 1, fuel prices will be as follows:
Premium gasoline remains at RD$293.60 per gallon, the regular rate continues at RD$274.50, the regular diesel fuel continues at RD$221.60 and the optimal rate remains at RD$241.10 per gallon.
Also, the avtur, the fuel for turbine planes, remains at RD$298.91 per gallon, the kerosene, which is also used in aviation but in ships with conventional engines. It maintains its price at RD$338.10, fuel oil #6 continues at RD$192.11 per gallon and fuel oil 1%S remains at RD$211.77 per gallon.
Meanwhile, liquefied petroleum gas (LPG) extends its current price for at least one more week and continues to trade at RD$147.60 per gallon, and natural gas continues at RD$28.97 per cubic meter.
The Ministry of Industry, Commerce and MSMEs reported that the average exchange rate used to calculate prices was RD$54.84, taken from the daily publications of the Central Bank.
The barrel of WTI rose 3.2% to 107.62 dollars
The price of Texas Intermediate Oil (WTI) rose 3.2% on Friday to close at $107.62 after a rebound related to tight supply in the energy market.
At the end of operations on the New York Mercantile Exchange (Nymex), WTI futures contracts for delivery in August gained 3.35 dollars compared to the previous close, last Thursday.
