Economy January 21, 2022 | 4:00 pm

Fuels go up again: premium gasoline increases RD$ 5.00

Natural gas was the only one that remained unchanged.
The Ministry of Industry, Commerce, and Mipymes (MICM) reported that record prices for a barrel of West Texas Intermediate (WTI), hovering around US$87 (up 17% since the end of 2021), continue to put upward pressure on the local fuel market. However, the Government continues to make great efforts to maintain price stability and prevent it from affecting citizens on a large scale.

The International Energy Agency (IEA) confirmed that the market has a “more tense environment than expected” due to demand and the inability of OPEC+ and its allies to reach their production targets.

To counteract this situation, the Dominican Government will assume RD$14.31 in the case of liquefied petroleum gas (LPG); RD$4.00 for premium gasoline; RD$12.40 for regular gasoline; RD$25.84 in the case of regular diesel and RD$15.61 for the price of a gallon of optimum, which represents up to 87% of the increase demanded by international prices, a decision protected by Decree 625-11. All this represents a total amount of RD$335 million.

You may be interested in DR, a Central American country with the most expensive fuels.
This volatility of the hikes in international oil prices causes that for the week of January 22 to 28, 2022; the prices will be as follows:

Premium Gasoline will be sold at RD$283.60 per gallon, which increases RD$5.00.
Regular Gasoline RD$266.50 per gallon increases RD$4.00.
Regular Gasoil RD$212.60 per gallon increases RD$4.00.
Optimum Gasoil RD$233.10 per gallon increases RD$5.00.
Avtur RD$194.38 per gallon increases RD$8.70.
Kerosene RD$223.60 per gallon increases RD$8.80.
Fuel Oíl #6 RD$158.95 per gallon increases RD$5.31.
Fuel Oíl 1%S RD$176.29 per gallon increases RD$4.28.
Liquefied Petroleum Gas (LPG) RD$146.60 per gallon increases RD$2.00.
Natural Gas RD$28.97 per m3 maintains its price.
The average weekly exchange rate is RD$57.89 from the Central Bank’s daily publications.

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Paul Tierney
January 22, 2022 8:21 am

The increasing price of fuel is the garrote strangling the ability of the Dominican economy to rise out of the trauma of the pandemic.