A former president of the Dominican Refinery, Arturo Martinez Moya, told reporters from the Listin Diario, that Venezuelan President Hugo Chavez has violated the San Jose Agreement by stopping petrol shipments to the Dominican Republic. Martinez Moya explained that the breakdown in shipments is in no way justified, since the Dominican Republic is up to date in the payments and reception of product. These are the two key elements, according to the former refinery chief, which could justify losing the right to purchase Venezuelan oil, but this has not been the case.
Hoy newspaper reported in its Sunday edition that the dispute with Venezuela is costing the Dominican Republic US$12 million a month. The article written by Fausto Adames says that the DR purchased 3.9 million barrels a day of petroleum that Venezuela was pricing at an average of US$25 the barrel. Sources indicate that the country now is buying at US$28 the barrel, sourcing from the US, Trinidad, and Mexico. The source of this information is the Hydrocarbons Department of the Ministry of Industry and Commerce and the Commercial Department of the Venezuelan Embassy in the DR.
According to Industry and Commerce, the DR petrol bill from January to February was US$850.2 million. The report forecasts that if petroleum prices continue high and the peso continues to slide against the US$, the gallon of gasoline could cost RD$70 later this year.