2000News

Don't buy gasoline over the weekend

Participation in a gas strike across the United States is being promoted also in the DR. The strike is a general protest against the present high prices of fuel. The promoters are asking drivers to not purchase any gasoline from Friday, 24 March to Sunday, 26 March. The purpose of the strike is to influence decision makers within the Organization of Petroleum Exporting Countries (OPEC). OPEC will be meeting on 27 March to discuss higher production. The high cost of petroleum has had a negative effect on the Dominican economy. Since the differential between the cost of gasoline and the price sold (minus intermediary fees) is a major revenue-producer for the Dominican state. Its reduction has caused a series of government spending austerity measures that have had an effect even on bank lending rates that have increased.