Minister of Industry and Commerce Jose del Castillo Savinon says that it will be catastrophic for the country if the price of gasoline increases to RD$300 a gallon. Del Castillo said that if the oil prices continue to increase on the world market the effects on the country would be serious, as they are linked to more than 40% of items consumed by the population and would directly affect all areas of the economy.
He said the country depends on natural gas and crude oil imports from OPEC member countries.
He did not refer to the high level of taxation that is also included in the fuel bill.
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