With oil prices reaching unprecedented levels, the Dominican Republic instantly feels the pinch. This weekend fuel prices reached historic levels for propane gas, which went up RD$2.08 per gallon. Premium and regular fuels also rose by a peso or more. Although LPG for household consumption is assisted by a RD$17 peso subsidy, the government recoups up to RD$9.27 in ITBIS taxes on each gallon.
Premium gasoline now sells for RD$156.40/gallon, regular gasoline is RD$146.80; diesel is RD$120.60 and propane is RD$56.30 subsidized and RD$78.06 non-subsidized.
Apparently, a reported lowering of the fuel reserves in the United States led to the most recent jump in the price of a barrel of oil.