{"id":70402,"date":"2015-12-18T21:09:01","date_gmt":"2015-12-18T21:09:01","guid":{"rendered":"http:\/\/dr1.com\/new\/?p=70402"},"modified":"2015-12-21T21:09:36","modified_gmt":"2015-12-21T21:09:36","slug":"fuel-bill-savings-for-the-dr-in-2016-not-in-budget","status":"publish","type":"post","link":"https:\/\/dr1.com\/news\/2015\/12\/18\/fuel-bill-savings-for-the-dr-in-2016-not-in-budget\/","title":{"rendered":"Fuel bill savings for the DR in 2016 not in budget"},"content":{"rendered":"

Economist Ernesto Selman of the Regional Center for Sustainable Economic Strategies is forecasting that the Dominican Republic will make savings of around 36% on its fuel bill for 2015, or about US$1.29 billion. This is due to the 22.3% drop in fuel prices on the international markets. There was a 1.1% increase in purchases in 2015. <\/p>\n

For 2016, he estimated a further decline of US$495 million in fuel imports. <\/p>\n

Nevertheless, Selman says the decline in the fuel prices have meant lower tax collections for the government. The government has collected RD$1.59 billion less in the first nine months of the year. <\/p>\n

He observes that while the government has budged RD$48.2 billion for 2016, it will only collect RD$40.35 billion, or around RD$7.85 billion less.<\/p>\n

The Medina government has only passed on a trickle of its fuel savings to Dominican consumers, despite the hydrocarbon law that establishes that the global market price fluctuations should be reflected in the retail price. <\/p>\n

Baja precio petr\u00f3leo ha tenido gran impacto en RD<\/a><\/p><\/blockquote>\n