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  1. #1
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    Default Dominican ministry freezes fuel prices for New Year

    Dominican ministry freezes fuel prices for New Year



    Santo Domingo.– The Ministry of Industry and Commerce has frozen all fuel prices for New Year, so from January 2 to 8 premium gasoline will still cost RD$180.40 and regular gasoline will sell for RD$162.90 per gallon.

    Optimum diesel will cost RD$134.40; regular diesel remains at RD$123.50; avtur will cost RD$84.60; kerosene will cost RD$107.20, and fuel oil will cost RD$61.84 per gallon.

    Propane gas will still cost RD$78.80 per gallon, while natural gas remains unchanged at RD$24.22 per cubic meter.

    The Dominican Republic Central Bank’s average posted exchange rate of RD$45.61 per dollar was used to calculate all fuel prices.

    Source: DT

    Jan 2, 2016

  2. #2
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    Quote Originally Posted by windeguy View Post
    Dominican ministry freezes fuel prices for New Year



    Santo Domingo.– The Ministry of Industry and Commerce has frozen all fuel prices for New Year, so from January 2 to 8 premium gasoline will still cost RD$180.40 and regular gasoline will sell for RD$162.90 per gallon.

    Optimum diesel will cost RD$134.40; regular diesel remains at RD$123.50; avtur will cost RD$84.60; kerosene will cost RD$107.20, and fuel oil will cost RD$61.84 per gallon.

    Propane gas will still cost RD$78.80 per gallon, while natural gas remains unchanged at RD$24.22 per cubic meter.

    The Dominican Republic Central Bank’s average posted exchange rate of RD$45.61 per dollar was used to calculate all fuel prices.

    Source: DT

    Jan 2, 2016
    So in other words, the crashing price of Crude & Brent Oil is digging into their tax revenues. This is like the opposite problem of the 1970's.

    Wonder if they will have a permanent freeze on the price, when Oil crashes even more down to $10-$20 per barrel.

  3. #3
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    IMO,
    they are FREEZING Fuel Prices ( esp Diesel) becaue PRICES ARE DROPPING LIKE CRAZY.

    So they are not doing anyone any favors..

    This is like when my heating oil Co calls me to LOCK IN the price.. as prices are DROPPING..
    yeagh ok..

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    Quote Originally Posted by jd426 View Post
    IMO,
    they are FREEZING Fuel Prices ( esp Diesel) becaue PRICES ARE DROPPING LIKE CRAZY.

    So they are not doing anyone any favors..

    This is like when my heating oil Co calls me to LOCK IN the price.. as prices are DROPPING..
    yeagh ok..
    What happens with price controls on a commodity that is collapsing in price-When the controls are lifted, the price will collapse even faster. Look at the Shanghai Composite in China to confirm what happens with price controls.

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    Quote Originally Posted by Tashi Siu's Dad View Post
    The Government is still making a whopping profit at those prices, due to the extremely LOW price of oil on the international market.
    We are paying about $3.58 at $RD162.90. Average price in the U.S. is around $2 right now. I am guessing that there could be about as much as $2 in taxes out of that $3.58 per gallon. This is enormous.

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    Normally , purchasers of oil buy forward so we do not know at what stage the DR government will be making a whopping profit . To my way of thinking I really hope they are already making a good profit so they can keep their finances in good shape and the tax on fuel is one tax which the poor do not have to bear unfairly

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    Quote Originally Posted by Kipling333 View Post
    Normally , purchasers of oil buy forward so we do not know at what stage the DR government will be making a whopping profit . To my way of thinking I really hope they are already making a good profit so they can keep their finances in good shape and the tax on fuel is one tax which the poor do not have to bear unfairly
    Gvt's have a problem with deflation-they fail to control their spending-Deflation is the natural order of economics trying to correct the wrong.

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  12. #8
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    Greek Jimmy said

    We are paying about $3.58 at $RD162.90. Average price in the U.S. is around $2 right now. I am guessing that there could be about as much as $2 in taxes out of that $3.58 per gallon. This is enormous.

    Many countries carry huge taxes on gas.

    The US Nat'l average just fell to $1.99 recently.

    Can somebody tell us what the Cdn price is these days.?

    Like RD, Canada has high gas taxes.

    What does RD charge per Gallon vs Canada?

    Can we have a Canad/RD price&tax comparison.??

    I travel between these countries often and never feel a big price spread in gasoline prices.

    In the USA, I feel a spread - from both RD & Canada...... way cheaper in the US....
    difference is all in the taxes

  13. #9
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    I have found this..........
    average gas tax in Canada (varies by province) is 31%
    Average gas tax in the USA is 11%

    Prices ??
    Seems the avergae liter price is about $1...
    4L per gallon..........

    $4 CAD.... at 76 cents US.........

    about $3/Gallon .....in US dollars
    about $1 of that is tax

    so,

    RD $3.58/gal
    USA $1.99
    Canada $3/gal

    all US dollars

    Now--- RD tax per gallon , anybody ???
    Last edited by william webster; 01-04-2016 at 04:25 PM.

  14. #10
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    Quote Originally Posted by windeguy View Post
    Dominican ministry freezes fuel prices for New Year



    Santo Domingo.– The Ministry of Industry and Commerce has frozen all fuel prices for New Year, so from January 2 to 8 premium gasoline will still cost RD$180.40 and regular gasoline will sell for RD$162.90 per gallon.

    Optimum diesel will cost RD$134.40; regular diesel remains at RD$123.50; avtur will cost RD$84.60; kerosene will cost RD$107.20, and fuel oil will cost RD$61.84 per gallon.

    Propane gas will still cost RD$78.80 per gallon, while natural gas remains unchanged at RD$24.22 per cubic meter.

    The Dominican Republic Central Bank’s average posted exchange rate of RD$45.61 per dollar was used to calculate all fuel prices.

    Source: DT

    Jan 2, 2016
    This is so much ado about nothing.

    The government sets the price of a gallon on Friday's (to begin Saturday's) based on market prices and their own combination of voodoo economics.

    Each week they announce prices are rising, falling, or remain unchanged/the same.......except for this week.

    This week after announcing tax increases on certain household food items, they decided they also better put out something to kind of soften the blow.....or at least make people think so.....so instead of announcing that fuel prices for the next week will remain unchanged from last week, as they normally do.......they make a big splash by saying they have "frozen" prices for the new week....in the hope this somehow buys them some good PR.

    "Frozen" sounds so much better than "unchanged"........but there is no difference here.


    Respectfully,
    Playacaribe2

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