As fuel prices rise so will staples, big business warns

Santo Domingo.- National Business Council president Pedro Brache on Thurs. stated concern over rising fuel prices, a situation he affirms could force retailers to raise the prices of consumer staples.

He said however, that he expects the prices of goods to remain stable, due to the low inflation and the high competition among imported products.

The business leader said that the most recent jumps in fuel prices affect operating costs of companies, “which could be reflected in an upward trend in some commodity prices.”

“Business leaders analyze whether the increase in fuels represents a specific measure of the Industry and Commerce Ministry, or a long-term provision, since some products (prices) would have to be raised.”

Brache explained however that “now raising prices is not as easy as it was before”, mainly due to economic stability and the competition of products brought from abroad

“We hope that this is a specific thing and that fuels will go back down, because if not they’re going to affect the prices of the products.”