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  1. #1
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    Default Gas prices reach historic high in DR

    Oh wait, this was 5 years ago.
    Just saw an old news article. Peso at 49:1 vs dollar. Gas at US$2.23 for premium. Ah, the good old days.

    Gasoline Prices Up 9 Pesos per Gallon Today
    Fuel prices reached their highest level in history here in the Dominican Republic today. As of Saturday morning the fixed price for a gallon of premium gasoline is now RD$109.90. Regular now costs RD$100.50. With the peso currently hovering around 49:1 vs. the U.S. Dollar, that represents US$2.23 for premium, and US$2.05 for regular. The price of diesel has been increased by RD$4.60 to RD$69.60 per gallon (US$1.42). The government used an exchange rate of 49.08 pesos to the dollar in calculating the price increase, up from 47.15:1 previously. The price increase order was signed by Secretary of Industry and Commerce, Zaki Hazoury. A gallon of propane remains at RD$25 because the Government subsidizes its purchase, although the actual cost at the moment is RD$34.49 per gallon. On January 1, premium grade gasoline sold for RD$74.95, regular, RD$66.89, increases for the year so far of 33.6% and 36.3%. respectively.
    Filed 12:06 05-22-2004

  2. #2
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    Quote Originally Posted by windeguy View Post
    You could also call it "peak oil". ........
    This guy may be a crackpot, but he has some interesting points:

    Chris Martenson | chapters - The Crash Course - chapters, Crash Course, Economy, Energy, environment, Peak Oil, videos

    He talks about peak oil in section 17 of his presentation.
    Windeguy. There was a recent discussion on another thread about "peak oil", with some comments about some of its pitfalls.

    http://www.dr1.com/forums/general-st...-refinery.html

    I personally think most of these "peak oil" models are planar and 2 dimensional. Their focus is on supply & demand, consumption & growth etc.

    They fail to incorporate two other highy dynamic factors, ... Science & Engineering advances, which are responsible for new oil field discoveries, new enhanced oil recovery technologies, new technologies that lead to new oilfield discoveries, etc etc etc. ( I have not read your link yet )

    The price of petrol in the DR is so high due to poor management of its refinery. A large share of DR petrol is purchased on the "spot" market at premium cost and delivered to DR by tanker ship. DR's Refinery Minister Montas would concur.

  3. #3
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    Quote Originally Posted by TOOBER_SDQ View Post
    A large share of DR petrol is purchased on the "spot" market at premium cost and delivered to DR by tanker ship. DR's Refinery Minister Montas would concur.
    I thought most of it came from Venezuela on a sweetheart deal.

  4. #4
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    Quote Originally Posted by cobraboy View Post
    I thought most of it came from Venezuela on a sweetheart deal.
    It is possible that some does come from Venezuela. I have heard that also. As for the spot market comment; when I met the Minister about a year and a half ago, he told me exactly what I posted above.

  5. #5
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    Quote Originally Posted by cobraboy View Post
    I thought most of it came from Venezuela on a sweetheart deal.
    I guess Leonel is running low on Tio Hugo's $40/BBL "gift".
    Ya' think maybe that was re-sold on the open market for $100 last year?

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