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Dominican Republic: Government assumes more than RD $ 2 billion to avoid fuel hikes

The Dominican Government has assumed, from January of this year until this week of Saturday, April 10 to 17, more than RD $ 1,978.6 million of the cost of fuels to avoid increases in prices to consumers.

The Ministry of Industry, Commerce, and Mipymes (MICM) has reported weekly on the government’s costs not to incur local increases. For this week, the fiscal price is RD $ 140.1 million, which he explains translates into an economic commitment with importers to mitigate the effect of this increase in citizens’ pocket.

The price of a WTI barrel is US $ 59.25.

But this cost has fluctuated with different figures in the last three months. For example, from March 13 to 19, the Government assumed RD $ 322 million, which is the highest figure in this period. On that date, a barrel of West Texas Intermediate (WTI), used as a reference to calculate local prices, climbed US $ 66.

The second-highest amount was in the week of March 20 to 26, where the Government absorbed an increase that was to be transferred to the consumer of more than RD $ 316 million, with a WTI barrel price US $ 65.

Meanwhile, the lowest amount that the government has had to assume has been during the week 9 to 15 January 2021, of RD$63 million, with prices above US$50 for the first time since February 2020.

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