Gasoline prices up

[NewsWhore]

While diesel and LPG prices were left at last week's levels, the government has increased the price of regular and premium gasoline. Industry and Commerce Minister Jose Ramon Fadul warned that although the price per gallon of diesel and LPG stayed the same, this does not mean an end to the trend for increased prices in the future. Fadul said that if the price of LPG were properly calculated, it would be selling for RD$187 a gallon and not RD$80.80. Gasoline increased RD$3.70 a gallon for premium and RD$3.90 a gallon for regular. The minister argued that the increased cost of fuel should not be a reason for public transporters to increase their fares, because they are benefiting from the decrease in the cost of cars, lubricants and tires imported from the United States or any of the Central American countries that are members of DR-CAFTA. Fadul added that he was in favor of some changes in the Hydrocarbon Law, especially the part that requires weekly adjustments to the price of fuels, saying he would prefer a monthly adjustment. Oil prices hit US$82.75 a barrel last week on the NY Commodities Exchange.

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