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SANTO DOMINGO.- Starting this Saturday, gasoline increases a little more than two pesos a gallon, while the optimal diesel fuel drops RD $ 12.10 and the regular RD $ 9.00, according to the Ministry of Industry, Commerce and MSMEs.
Starting at midnight this Friday and during the next week, the gallon of premium gasoline will sell for RD $ 165.30 (it increases RD $ 2.30) and that of regular gasoline for RD $ 150.30 (it increases RD $ 2.40).
Regular diesel will cost RD $ 105.60 per gallon, drops RD $ 9.00, and optimal diesel will sell for RD $ 118.80, with a discount of RD $ 12.10.
The gallon of avtur will be shipped at RD $ 71.20, down RD $ 9.90; that of kerosene at RD $ 92.00, decreases RD $ 10.80, fuel oil # 6 will sell at RD $ 63.10 per gallon, drops RD $ 2.30 and fuel oil 1% S will sell at RD $ 73.30 per gallon, reduces RD $ 5.80.
Liquefied petroleum gas (LPG) will cost RD $ 89.70 a gallon, with a discount of RD $ 0.20 and natural gas at RD $ 28.97 per cubic meter, maintains its price.
The average exchange rate is RD $ 54.35 according to a survey carried out by the Central Bank.
To justify the new loans, the Ministry of Industry and Commerce made the following explanation:
“If oil producers have nowhere to store their crude, prices will continue to drop. Experts agree that regardless of the cuts announced by OPEC or those that may be made by other producing countries, the recovery in demand and, in general, the economy, is a key aspect to restore balance to energy markets. The storage variable is becoming a negative force in the price equation. The physical reality of oil is that it is difficult to handle, highly volatile, potentially polluting, and truly useless without a refinery.
The fundamental reason that explains the behavior of crude oil prices lies in the extraordinary nature of a hibernation that has massively broken the normality of economic and social life, has interrupted trade flows, paralyzed industry and reduced consumption and has sunk energy demand in a way never seen before.
WTI prices have fallen more than 70% so far this year and is very far from the 60 dollars they reached in January, which has caused the closure of several wells and platforms and that several producers have been declared bankrupt, a situation that could spread to other companies if prices continue at the same levels they are now.
But crude prices are very volatile, so volatile that any information in any direction alters the market. The news on Wednesday brings the information, that there is a possibility that OPEC and other oil countries will agree to a new reduction in production that is estimated at between 15 to 20 million barrels per day and that the crude inventories published Yesterday by the American Petroleum Institute (API) they increased less than expected, that was enough for WTI prices to be 15% above the previous day’s close. “What can be said without mistake is that oil prices only recover when demand returns to its normal level.”
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