Successive raises in the global oil market put their effects on the Dominican Republic in the last few weeks. Gasoline and diesel prices have been raised up to keep up with the global prices and, in effect, affect Dominican consumers. This could well be a sign of the start of a global recovery but consumers are still worried that this stretch of price increase might just keep up.
Well, fortunately, the prices have somewhat relaxed this time around, with the Industry and Commerce Industry declaring that there will be lower prices for kerosene, avtur, and gasoline, whereas those of diesel and propane gas remain unchanged.
According to a report from DominicanToday.com, for the week of November 28 to December 4, premium gasoline prices will be pegged at RD$159.80 per gallon, a dollar less that of last week. Meanwhile, regular gasoline prices are at RD$149.60, also a dollar less.
Furthermore, avtur prices will be set at RD$102.60 per gallon for another reduction of RD$1.00, while kerosene will cost RD$119.40, which translates to another RD$1.00 per gallon. Prices on regular and premium diesel are unchanged at RD$ 127.30 and RD$132.30 per gallon, as well as propane gas at RD$72.29 per gallon.
As one of the readers in the linked article commented, the price is at least 50% higher than in the United States. My guess is that this is because of additional taxes and importation tariffs set for imported goods.
Lower oil prices is most certainly good for territories that are net importing their energy needs. This is because a lower oil price means cheaper operating expenses for almost every industry, which translates to easier business for everyone. Well, on the other hand, this means bad news for countries that are net exporting their oil because of obvious reasons.
