Expectations that the government would increase the price of gasoline caused a scarcity at several power pumps in Santo Domingo. Many drivers filled up, just in case. In 1996 when the barrel of fuel reached the US$26 level, the government increased the price of premium fuel to RD$32, subsequently lowering it to RD$27.90, despite the cost of the barrel of fuel plummeting to an all time low of US$10. International prices are now near the US$25 mark, but the DR purchases its fuel for less as it buys it with a special agreement from Venezuela and Mexico. President Leonel Fernández met with his economic team and Partido de la Liberación Dominicana members yesterday. At the end of the meeting, Engineer Temístocles Montás, Technical Secretary of the Presidency and a member of the PLD’s Political Committee, said that an announcement would be forthcoming and the government is seeking a formula to make the burden of the fuel cost increase to be the least painful on the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
Expectations that the government would increase the price of gasoline caused a scarcity at several power pumps in Santo Domingo. Many drivers filled up, just in case. In 1996 when the barrel of fuel reached the US$26 level, the government increased the price of premium fuel to RD$32, subsequently lowering it to RD$27.90, despite the … <\/p>\n