Dominican Government raises fuel prices by up to RD$8.00 amid global oil surge

Santo Domingo.-

The Ministry of Industry, Commerce and MSMEs (MICM) reported that the government allocated RD$1.435 billion in subsidies to keep liquefied petroleum gas (LPG) prices frozen and partially absorb increases in gasoline and diesel prices for the week of May 16–22.

According to the ministry, West Texas Intermediate (WTI) crude oil, the benchmark used by the Dominican Republic, is currently trading near US$105 per barrel after rising approximately US$4.00 in the latest session, representing an increase of around 3.86%.

As a result of persistently high international oil and fuel prices, premium and regular gasoline, along with regular and premium diesel, will see adjustments in their per-gallon retail prices.

Meanwhile, prices for Avtur, kerosene, Fuel Oil #6, and Fuel Oil #1 — fuels mainly used in the aviation and industrial sectors — will decrease during the same period.