Blame Ike

[NewsWhore]

Dominican officials are blaming Hurricane Ike for the continued high prices of gasoline in the DR. Industry and Commerce Minister Jose Ramon Fadul says prices remain high because 17 refineries were closed in the US due to Ike. He said there have been significant reductions in oil reserves due to the storm. Fadul is denying reports that officials are manipulating the market to keep prices high and increase government tax revenues. Fadul pointed to the Platts Oilgram Report that uses the Gulf Coast as a reference for the price of fuel. Citizens have complained that while international fuel prices have dropped by more than US$50 to below US$100 per barrel of petroleum, fuel prices have only dropped by RD$9 in the last month.

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