The Ministry of Industry, Commerce, and Mipymes (MICM) left fuel prices unchanged for the week of the 21st to the 27th of this month.

Premium gasoline remains at RD$293.60 per gallon, regular at RD$274.50; regular diesel at RD$221.60, and optimum at RD$241.10.

Liquefied petroleum gas (LPG) maintains its price of RD$147.60 per gallon, and natural gas will be dispatched at the same price as last week, which was 28 pesos and 97 cents.

The government announced that it had allocated RD$1,215 million in fuel subsidies to curb the increase in prices and thus mitigate its impact on inflation in the local market.

The vice minister of domestic trade, Ramon Perez Fermin, explained that the price of WTI averaged US$110.56, a significant increase of 5.0% over the previous week’s average.

The issues affecting the local market have not changed. The conflict in Ukraine has become uncertain and of long duration; together with the humanitarian cost, the economic component reaches our country, before which the government is called to act.

He recalled that if the government had not intervened or assumed the increases, the price of LPG would have increased by almost 10 pesos per gallon; Premium Gasoline would have increased by nearly 80 pesos per gallon; Regular Gasoline by more than 87 pesos per gallon; Regular Gasoil by almost 75 pesos per gallon and Optimum by about 80 pesos per gallon.

“Due to the effort, commitment and efficiency of the government, none of this will materialize. The government will assume 100% of the increases, at a cost of RD1,215 million, protecting the economy of households and the pockets of Dominicans,” added Perez.