As most readers already know, fuel prices hit an all-time high on Saturday as regular gasoline went up RD$$5.70 a gallon, premium rose by RD$4.30 and regular diesel fuel rose by RD$1.30. At RD$112.20 per gallon, and the dollar pegged at about RD$29.00 to the US dollar, consumers are paying much more than ever before. (Some estimates put regular gasoline at US$3.86 a gallon, vs. US$2.13 this time last year). Today’s prices are the highest since the Hydrocarbon Law went into effect in 2000. In terms of prices in Dominican pesos, the previous high was RD$118.50 for a gallon of premium in early June 2004. However, the exchange rate at the time was hovering around the RD$45.00 to US$1.00 mark. The Ministry of Industry and Commerce attributes the new price increases to the decrease in the United States’ fuel reserves and the continued increase in the price of crude oil on the world market.<\/p>\n","protected":false},"excerpt":{"rendered":"
As most readers already know, fuel prices hit an all-time high on Saturday as regular gasoline went up RD$$5.70 a gallon, premium rose by RD$4.30 and regular diesel fuel rose by RD$1.30. At RD$112.20 per gallon, and the dollar pegged at about RD$29.00 to the US dollar, consumers are paying much more than ever before. … <\/p>\n