Oil has fallen over 15% in the past few days.
It is down near $66/bbl.
Will we see a drop in gasoline and diesel here in DR if these prices hold?
The government in January vowed to continue subsidies, but the price at which they target to provide subsidy is between 85-115 bbl WTI. Current price for May delivery is $67.01.
Now that it has fallen below their benchmark, will they also remove the subsidy.
Likely they will reduce or eliminate the subsidy at some point, but the price will probably remain the same for the foreseeable future.
They usually announce next weeks prices around this time on Friday’s……so we may get an idea very shortly.