The Ministry of Industry & Commerce announced on Friday, 12 May 2023 that fuel prices for the coming week would be a few pesos less per gallon. Even propane is down a little bit, too.
This marks the first change in just over 60 weeks, since mid-March of 2022 that prices have even changed, and the first time in three years that the government has not been subsidizing fuel prices to protect consumers.
The Ministry of Industry & Commerce also reduced prices of petroleum products such as kerosene, Number 6 fuel oil, and regular fuel oil.
West Texas Intermediate (WTI), the standard for setting Dominican fuel prices, has been hovering in the US$70 a barrel range for several weeks now. Part of this price reduction can be attributed to the lowering cost of crude oil. The Abinader decree establishing a subsidy of March of 2022 noted that the subsidy was to be applied as long as crude (WTI) was between US$85 and US$115 a barrel.
Read more in Spanish:
Ministry of Industry & Commerce
Presidency
El Caribe
Listin Diario
El Dia
15 May 2023