2003News

Good news: dollar down and oil down

Yesterday the dollar was 25 points lower in the exchange markets and oil was down on the international market, closing at US$27.97. Since this has occurred before the March 28 deadline for fixing next month?s electric bills, there is a possibility that the announced increase might be negated, since the cost of dollars and the price of oil are the main contributing factors for the price of electricity. For every peso rise in the price of a dollar the electricity bill goes up 3.88%, and for every dollar rise in the price of oil, the cost of electricity goes up 1.68 %.