While the price per gallon of regular gasoline fell precipitously in 2008 due to the global financial crisis, it did not break below RD $100.00, equaling approximately $3.50 USD.
Respectfully,
Playacaribe2
- Thread starter windeguy
- Start date
Dominican ministry freezes fuel prices for New Year
While the price per gallon of regular gasoline fell precipitously in 2008 due to the global financial crisis, it did not break below RD $100.00, equaling approximately $3.50 USD.
Respectfully,
Playacaribe2
Very interesting to read so many good statistics and contributions,but regardless of all methodology , I still have no problem with the Dominican Government keeping the prices artificially high...it is like a luxury tax that only the richer people pay . I think I am right in saying that the bus owners still receive a discount . It seems more equitable , on a social basis than raising ITBIS that affects the poor proportionally more . We are living in a very small country and not many of us travel far , so we do not have much suffering .
now i have heard it all. artificially high gas tax is like a luxury tax. ok then.
tell that to guys in the transportation business who try to eke out a living ferrying people around in an old Corolla for 20 pesos a ride.
That's always been my point.....333
On an island you don't do the miles you do on a continent.
I love filling up for 2,000 pesos
Imagine what Hardly is saving a month !!!!!
On an island you don't do the miles you do on a continent.
I love filling up for 2,000 pesos
Imagine what Hardly is saving a month !!!!!
ITBIS is also calculated on gasoline.....so those poor motoconcho guys pay it.....and it has increased since 2008 from 16-18%....and expanded to more products in the basic needs food basket.....proportionately impacting the poor to a greater %.....hardly making it "more equitable."
As you allude to, that you do not have "much suffering," it is the poor who suffer the most from these taxes.
Respectfully,
Playacaribe2
I realize this isn't the U.S. average but 46 cents a gallon!!!! WOW not since I was a kid.
http://www.cnbc.com/2016/01/18/gas-wars-a-gallon-is-just-46-cents-here.html
http://www.cnbc.com/2016/01/18/gas-wars-a-gallon-is-just-46-cents-here.html
It was a promotion to get publicity......and it worked lol.
Lowest gas price in the world is likely Venezuela at 6 cents per gallon.....everyday.
Respectfully,
Playacaribe2
Yes I agree that the carros publicos drivers are suffering, but they are a very small minority ..and I know and agree that ITBIS is placed on gasoline but there are substantial discounts for buses and truck companies . I also agree that trucking costs are a factor in the price of most products that are sold . Of course all taxes here affect the poor more than richer people but at least the tax on gasoline , without the discount, affects the small percentage of people who own cars here much more than it affects the poor. It is the same as the property tax that only the wealthy pay , but with the property tax so many wealthy people do not pay it . It is very difficult to find socially acceptable taxes that can be collected ..I think the tax on gasoline with the discounts that are in place is socially acceptable .
i have no idea which country you are posting from, but there are jillions of carrito publicos all over this country. their number is not insignificant. you need to take a closer look around, or take a stroll outside Piantini some day.
Were you here in 2008? I was and payed RD$80 per gallon on Lincoln Ave. near Piantini in November of 2008.
FACT: Yes, the price was well below $RD100 per gallon in November of 2008.
Maybe you are trying to use today's exchange rate to extrapolate the price there in 2008. I am using real nominal prices at that time.
Correct-the artificial price of everything in an economy takes an enormous toll on the market place and real people.
The artificial pricing of almost everything through vast assumption of debt is the core reason why the world economy is now in collapse.
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Is that an I remember fact.....or a real fact.
My statement is based on the weekly price settings by the ministry of industry and commerce.....which sets all gas prices in the DR weekly.
The price never went below 100 pesos.
Hint, you can search gas prices.
Yes, I was there in 2008, multiple times....but that is not the point.
I will be more than happy to accept that I was wrong....when you post your "Facts."
Respectfully,
Playacaribe2
Well I remember paying RD$80 per gallon at the corner of Lope de Vega and Lincoln back in Nov. 2008.
As a matter of fact, I filled the whole tank (which I never do here) 'cause I thought it was cheap for DR standards.
The equivalent price today would be $RD104 per gallon and not $RD159.60 per gallon.
Regular gas was 123.70 pesos for the last full week of November, 2008.....
Respectfully,
Playacaribe2
I remember well that I didn't pay a peso over $RD100 per gallon in November-2008.
If that is what you remember "70, 80, but not a peso over 100"...so be it.
But that is hardly Fact....speaking of which;
http://www.dominicantoday.com/dr/economy/2008/11/21/30157/Fuel-prices-fall-for-7th-straight-week
Respectfully,
Playacaribe2
I have learned a lot from all you world economist petrolium experts. Now just explane prices here under petrocaribe which is the Dominican price setter. Not Abudubi or saudi aribia .
Depending on how/who the government buys oil/gas from they either pay RBOB, Brent, WTI, or Venezuelan Heavy/Bunker.
Petrocaribe merely allows the Dominican government to buy/finance its purchases as opposed to COD....depending on the price of crude at time of purchase. The government does not pass on any savings to the consumer.
Petrocaribe may well come to an abrupt end in the near future as Venezuela is turning away from the failed economic policies of former President Chavez.
Respectfully,
Playacaribe2
to Senor El Gorgon ..I am posting from my home in Zona Colonial and only go to Piantini for my eyes and teeth inspectons.. of a total of 10 million plus people here , a few thousand are drivers of carros publicos and the price is seldom more than 50 pesos . But how many people own a car here and need petrol.. ?? Ithe last figure I can see is that there are 97 cars for every thousand people and assuming there are some people have 2 ,only one in ten people own a car ..so the tax on cars has a greater impact on them , the rich.. I thought that you also had some social feelings !!
actually, i do have social feelings, which is why i am bemused that someone could assert that taxes on petroleum derivatives are a luxury tax affecting the rich. come to POP some time. go to La Vega, and places like those. see how many people there are in those towns making a living by conchando. nope, you will not see too many on the Conde, but take a reconaissance tour around the country, and see how things work. check to see how many carritos are in Santiago. heck, go onto 27 Avenue in the morning and see how real life is in Sto Dgo.