2007News

Unprecedented fuel price hikes

The Ministry of Industry and Commerce has authorized price increases of RD$8.60 and RD$7.90 for a gallon of premium and regular gasoline last Friday night. Diesel went up a whopping RD$7.30 a gallon and propane gas (LPG) went up RD$0.56 per gallon. Dominican fuel prices are indexed to the price of West Texas Intermediate, which hit prices of over US$88 a barrel last week, over fears of interruption of oil supplies due to tensions between Turkey and Iraq.