Government tells its version of why fuel prices are so high

Economy Minister Miguel Ceara Hatton met with the press on Wednesday, 10 March 2021 to explain the rising fuel prices. Ceara Hatton sought to explain why, even when oil prices drop, there is not a reduction in the cost of fuels at the local level.

Ceara Hatton met with media directors at the Presidential Palace. He said the government has an accumulated deficit of RD$1.27 billion.

“When international prices of oil and its by products rise, the local price of fuels does not always rise in the same proportion, and when international prices fall, local prices do not fall in the same magnitude, given that the government is trying to correct the accumulated deficit,” said the Minister of Economy.

Ceara Hatton also explained that farm prices have risen because many of the inputs, such as corn, wheat and soybean imports, have experienced price increases abroad.

President Luis Abinader was present for the meeting. Also attending were Industry & Commerce minister Victor (Ito) Bisonó, Administrative Minister José Ignacio Paliza and Presidency communications voice, Milagros German.

Participating for the press were the directors of Listín Diario, Miguel Franjul; El Día, José Monegro; Diario Libre, Inés Aizpún; and El Nuevo Diario, Persio Maldonado, who is the president of the Dominican Society of Newspapers.

Also, the news executives, Alberto Caminero, Telemicro; Roberto Cavada, Telenoticias 11; Albanelly Familia, CDN 37; Nuria Piera, N Digital; Fausto Rosario, Acento; Adalberto Grullón, Teleantillas 2; Héctor Minaya, El Naciona; and Rosa Encarnación, Grupo SIN.

The meeting came after journalist Julissa Cespedes aired an investigative report disclosing the different items that add up to set the price of fuel here.

Read more:

Listin Diario

Listin Diario

El Dia

DR1 News

10 March 2021