2004News

The big hit

Two of Saturday’s principal newspapers featured headlines telling of gasoline prices and their new, unheard-of levels. Premium gasoline hit RD$92.40 a gallon, while regular was quoted at RD$83.95. A gallon of diesel was going for RD$66.05. These prices reflect a RD$20.92 rise in premium since the first of the year, RD$19.86 for regular and RD$18.65 for diesel fuel. Government sources say the rise in the exchange rate is the sole cause for the new prices. Nevertheless, a barrel of petroleum saw considerable price increases, rising to US$35 last week. This forebodes there could be more steep increases in the future. Amaury Justo Duarte, the president of the refinery, told reporters that supplies are returning to normal levels with the unloading of a tanker last evening. The refinery had to reach an agreement with several financial institutions in order to obtain the dollars needed to pay for the new shipment.