2004News

Fuel saving urgent

Economist Arturo Martinez Moya says that the country cannot continue importing the same volume of fuel given the present record high prices. He urged the government alert the population and create a national plan to save fuel. He urged that a well thought savings energy savings program be implemented immediately. He said that if savings are not had, the exchange rate will be affected. He said the cost of barrel for the DR could be at US$60 because the country buys primarily finished product, not crude. He said that once the barrel of petroleum costs more than US$26-US$27, it is more cost efficient for the country to import fuel than for the Dominican Petroleum Refinery to process it.