Oil Based Products Roaring High and Higher....

JasonD

Bronze
Feb 10, 2018
1,009
2
38
"SANTO DOMINGO.- The Ministry of Industry, Commerce and Mipymes announced on Thursday that as of Saturday, April 1, the price of regular diesel will rise RD $ 6.00, the optimal RD $ 5.00; gasolines will rise RD $ 4.00 and liquefied petroleum gas and fuel oil will rise RD $ 1.00.

With these increases are three consecutive weeks in which the price of gasoline increases, since in the week of March 17 to 23, the premium rose two and the regular one peso.

But in the week ending Friday morning, the increases were five pesos in the case of both fuels, which implies an increase of 11 pesos in the case of premium gasoline and 10 pesos in the case of the regular fuel.

According to the resolutions published this Thursday in the morning, with the signature of the architect Nelson Toca Simó in the week of March 31 to April 6, the price of premium gasoline will be 238.30 pesos and that of regular gasoline of 224.20 pesos.

Meanwhile, from Saturday, the regular gasoil will cost 180.50 pesos and the optimal gasoil will cost 191.60 pesos.

The avtur will cost 142.90 pesos; the kerosene 169.30 pesos and the fuel oil 112.85 pesos per gallon.

The liquefied petroleum gas (LPG) will cost 112.30 pesos and the natural gas will continue at 28.97 pesos per cubic meter"

http://elnacional.com.do/suben-rd6-00-a-los-gasoil-rd4-00-a-las-gasolinas-y-rd1-00-al-glp/
 

bienamor

Kansas redneck an proud of it
Apr 23, 2004
5,050
458
83
To be expected as we import most if not all Petroleum based fuels and the Peso rate to the USD is rising. Even if we do some of the refining we still import the petroleum to be refined.
 
Feb 7, 2007
8,005
625
113
Edit... I noticed the OP post was related to last week's increase. Last week WTI actually went up. This week it went down. There should be some drop on Friday.
 

ju10prd

On Vacation!
Nov 19, 2014
4,210
0
36
Accountkiller
If you drive a gas guzzler each price rise will hurt and there will be more.

DR has a very long way to go to match European prices and indeed many parts of the Caribbean too.

DR gas prices are cheap so don't grumble. Just choose your wheels with care.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
Prices of oil other than high have no meaning on the price set at the pump in the DR. Just as everything else, there aren't any "clear" standards.
The gubmint sets the price, and I've not seen any direct correlation or absolute formula between the average world market for refined product, the import price paid and price at the pump.

Fuel taxes are a massive cash cow for the DR gubmint since supply/demand really doesn't exist in competition. The dealers don't care because they make their margin no matter the price. The gubmint can set the price anywhere they want, as long as it generates maximum revenues (i.e. gallons sold * price * margin).
 

LTSteve

Gold
Jul 9, 2010
5,449
23
38
"SANTO DOMINGO.- The Ministry of Industry, Commerce and Mipymes announced on Thursday that as of Saturday, April 1, the price of regular diesel will rise RD $ 6.00, the optimal RD $ 5.00; gasolines will rise RD $ 4.00 and liquefied petroleum gas and fuel oil will rise RD $ 1.00.

With these increases are three consecutive weeks in which the price of gasoline increases, since in the week of March 17 to 23, the premium rose two and the regular one peso.

But in the week ending Friday morning, the increases were five pesos in the case of both fuels, which implies an increase of 11 pesos in the case of premium gasoline and 10 pesos in the case of the regular fuel.

According to the resolutions published this Thursday in the morning, with the signature of the architect Nelson Toca Simó in the week of March 31 to April 6, the price of premium gasoline will be 238.30 pesos and that of regular gasoline of 224.20 pesos.

Meanwhile, from Saturday, the regular gasoil will cost 180.50 pesos and the optimal gasoil will cost 191.60 pesos.

The avtur will cost 142.90 pesos; the kerosene 169.30 pesos and the fuel oil 112.85 pesos per gallon.

The liquefied petroleum gas (LPG) will cost 112.30 pesos and the natural gas will continue at 28.97 pesos per cubic meter"

http://elnacional.com.do/suben-rd6-00-a-los-gasoil-rd4-00-a-las-gasolinas-y-rd1-00-al-glp/

It seems that it is going up world wide. In the USA Delaware, the price per gallon has gone up close to 25 cents in the last few weeks. Obviously not as bad as the DR. Current price is around $2.50 a gallon. De. has very low State taxes per gallon. Lucky me.
 

bob saunders

Platinum
Jan 1, 2002
32,504
5,932
113
dr1.com
In Canada the addition of both a carbon tax, and a hike in Federal gasoline tax has driven the price way up. Then some metropolitan area have their own tax of transportation fuels so pretty damn expensive.
 

JasonD

Bronze
Feb 10, 2018
1,009
2
38
The gubmint sets the price, and I've not seen any direct correlation or absolute formula between the average world market for refined product, the import price paid and price at the pump.

Fuel taxes are a massive cash cow for the DR gubmint since supply/demand really doesn't exist in competition. The dealers don't care because they make their margin no matter the price. The gubmint can set the price anywhere they want, as long as it generates maximum revenues (i.e. gallons sold * price * margin).

So, you have learned something from me already. Great news!

Although to correct you first paragraph, there is a formula used in the DR to allegedly set the gas prices.

But what do I know, am not an Economist after all..... :cheeky: HA!
 

JasonD

Bronze
Feb 10, 2018
1,009
2
38
If you drive a gas guzzler each price rise will hurt and there will be more.

DR has a very long way to go to match European prices and indeed many parts of the Caribbean too.

DR gas prices are cheap so don't grumble. Just choose your wheels with care.

One of the highest among LA countries.
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
So, you have learned something from me already. Great news!

Although to correct you first paragraph, there is a formula used in the DR to allegedly set the gas prices.

But what do I know, am not an Economist after all..... :cheeky: HA!
I learned nothing from you.

Please post the "alleged" formula.
 

Ecoman1949

Born to Ride.
Oct 17, 2015
2,806
1,309
113
In Canada the addition of both a carbon tax, and a hike in Federal gasoline tax has driven the price way up. Then some metropolitan area have their own tax of transportation fuels so pretty damn expensive.

$1.53 a litre in Vancouver and lower BC mainland. Price increased significantly last week due to diminished refining capacity and oil supply. Ironic because the current NDP government is trying to block a pipeline from Alberta that would allow greater supply. I rent subcompacts in the DR so no big impacts to my wallet. I can cruise around for three days on a 1000 pesos.