For yet another week, the Abinader administration announced fuel prices will remain the same as they were in March 2022. Luckily, crude oil prices have come down over US$40.00 a barrel since reaching the high point of over US$120.00 a barrel.
So far, the government says it has invested over RD$27 billion in these subsidies, oftentimes subsidizing fuel prices with close to RD$2.0 billion in just one week.
Reflecting the price drop in the price of crude, this week the cost to the government was “only’’ RD$450 million.
According to the decree issued in March 2022, the government would subsidize fuel prices for four months, and this ended last month. However, the Abinader administration continues to bear the brunt on the high cost of crude oil. This policy has saved car owners between RD$20 and RD$65 pesos a gallon this week, depending on the type of fuel that is purchased.
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