Economy March 26, 2023 | 12:30 pm

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Fuel prices remain unchanged

Fuel prices hold steady

The Ministry of Industry, Commerce and Mipymes (MICM) announced that for the week of March 25 to 31, 2023, fuels will be marketed at the following prices:

Premium Gasoline RD$ 293.60 per gallon maintains its price.
Regular Gasoline, RD$ 274.50 per gallon, maintains its price.
Regular Gasoil RD$, 221.60 per gallon, maintains its price.
Gasoil Óptimo RD$241.10 per gallon maintains its price.
Avtur RD$195.33 per gallon down RD$8.06.
Kerosene RD$, 338.10 per gallon, maintains its price.
Fuel Oil #6 RD$192.11 per gallon maintains its price.
Fuel Oíl 1%S RD$, 211.77 per gallon, maintains its price.
Liquefied Petroleum Gas (LPG) RD$147.60 per gallon maintains its price.
The weekly average exchange rate is RD$54.84 from the Central Bank’s daily publications.

Ramon Perez Fermin, deputy minister of Domestic Trade, informed this Friday that the Dominican government would keep the price of gasoline and diesel fuel frozen again with an extraordinary subsidy of RD$175.9 million, with which it seeks to contain the increases that the international market continues to provoke.

“Gasoil and gasolines maintain a significant difference in relation to the price of crude oil, which has limited local prices from decreasing at the same rate as crude oil. In view of this complex context, the government has again decided to freeze the prices of gasoline and diesel, thus avoiding the increases that continue to be caused by the recovery of post-pandemic demand. By freezing prices, the Dominican government assumes RD$175.9 million in order not to affect consumers with these price increases and at the same time to continue contributing to the reduction of inflation and its effects in our country”, explained the vice minister.

This week the WTI trading closes per barrel in the markets ranged between US$66.74 as the minimum value and US$70.90 as the highest value. “However, as we have been reporting for a little over a year, the crisis in Eastern Europe has caused gasoline and diesel to reach historic price levels. Although the price of crude oil has maintained a tendency towards stability, this has not been the case for derivatives,” said Pérez Fermín.

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