The Abinader administration once again did not rise local fuel prices seeking to shield local prices from external shocks. The government reports that fuel subsidies are well above RD$19 billion, since the decision to not adjust fuel prices upwards.
The Hydrocarbons Law pegs local fuel prices to the West Texas Intermediate (WTI) price per barrel.In March, the Abinader administration announced it would keep the same fuel prices as long as crude stayed below the US$115 per gallon mark. The WTI mark surged past US$120 last week.
As reported, if it were not for the subsidies, the price of the gallon of gasoline here would be hovering over RD$300. Regular gasoline sells for RD$274 the gallon, regular diesel sells for RD$221 the gallon.
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El Caribe
Ministry of Industry & Commerce fuel prices
13 June 2022