NewsWhore
06-27-2008, 02:50 PM
A barrel of crude oil hit the US$140 mark for the first time ever yesterday. The price of fuel is increasing even after Saudi Arabia agreed to increase crude oil output by 200,000 barrels per day by July. This is the second time that the Saudis have agreed to increase production. In May they agreed to up production by 300,000 barrels. The BBC reports that speculation has been to the detriment of oil prices and some believe this could lead prices to reach US$200 per barrel within 18 months. Premium gasoline in the DR is at RD$205.60 and regular gasoline, at RD$196.80, is expected to soon break the RD$200 mark, bringing gasoline to cost in the DR around US$6 the gallon, compared to US$4 in the US. The difference in price is due to the high local taxes on the gallon.
For updates on fuel prices, see http://www.seic.gov.do/default.aspx
More... (http://www.dr1.com/index.html#5)
For updates on fuel prices, see http://www.seic.gov.do/default.aspx
More... (http://www.dr1.com/index.html#5)