In just two days, the price per liter of regular gasoline in Puerto Rico fell 11 cents, which translates to a reduction of 7% compared to the cost at which the product was sold at the beginning of this week, reported this Thursday the secretary of the Department of Consumer Affairs (DACO), Edan Rivera Rodriguez.
The official indicated that similar losses were reported by local wholesalers.
“The reference markets remain volatile, but we have had a certain downward trend for about two weeks, which has been reflected in both wholesale and retail prices,” said the secretary, who stated that “in Puerto Rico we are seeing even more notable declines than those reported in Europe and the United States.”
From the price tables published today by the DACO, it appears that all station that refuels throughout the day will show maximum prices between $1.03 and $1.09 for regular gasoline; $1.08 – $1.29 for premium, and $1.19 – $1.29 for diesel.
Rivera explained that the implementation of the Joint Resolution that gave the green light to the exemption in “la crudita” has been an important element, because “it forces the freezing of DACO profit margins to remain in force, and that has made it possible to ensure that the relief arrives directly at the pump price paid by the consumer”.
For its part, Hector Roman Maldonadodirector of the DACO Economic Studies Division, explained that “the highest prices were reported on June 10, when regular gasoline was sold at $1.38, while these days we have had stations that have dropped to $1.01 for that type of product”.
According to Roman Maldonado, “The market declines, together with the tax exemption, have resulted in pump prices that have not been seen since April 22.”
The official specified that, according to the reports submitted by the wholesalers, until today, July 14, 12.5 million gallons of fuel, of all brands, have been distributed at service stations throughout the Island, exempt from the payment of certain excise taxes.