Gasoline Prices Soar: State Subsidies and Impact on Dominicans

2023-07-28 22:52:30

By EFE Date: 07/28/2023

Santo Domingo, Jul 28.- Gasoline, diesel and Avtur will rise in the next seven days, as oil prices skyrocket, some limited increases thanks to state subsidies that will be around 300 million pesos, the Ministry of Industry, Commerce and Mipymes.

In the week of July 29 to August 4, a gallon of premium gasoline will cost 293.10 pesos per gallon (1.50 pesos more) and regular gasoline will be sold at 274.50 pesos (+1.00).

Increases are also registered in diesel – the regular gallon will be at 221.60 pesos (1.00 more pesos) and the optimal one will reach 239.10 (2.00 more pesos) – and in the avtur, used in aviation, which increases 10.09 pesos, up to 200.57 a gallon.

The prices of kerosene (248.10 pesos per gallon), Fuel Oil #6 (153.61 pesos/gallon) and Fuel Oil 1%S (173.27 pesos/gallon) remain stable.

Liquefied Petroleum Gas (LPG) also remains stable at 132.60 pesos per gallon, and natural gas at 43.97 per cubic meter.

According to the Vice Minister of Internal Trade, Ramón Pérez Fermín, “the rises in international oil prices have been cause for concern once more, the international price of WTI averaged RD$77.97, which represents increases for the fourth consecutive week, accumulating an increase close to 12% only in this month of July.

Faced with this situation, he explained, the Government has decided to subsidize fuel prices with some 300 million pesos, with the aim of containing the increases and preventing them from negatively affecting the family economy of Dominicans.

The weekly average exchange rate is RD$56.21 from the daily publications of the Central Bank. EFE

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