NewsWhore
05-24-2012, 04:30 PM
Fuel prices in the DR have been stagnant, not reflecting international price declines.
Nevertheless, Dominicans are so accustomed to fuel price increases that few seem to notice that international prices have actually been declining in recent weeks, and thus local prices should be dropping.
West Texas Intermediate, the benchmark oil for setting fuel prices in the Dominican Republic was priced below US$90 per barrel in trading yesterday, a 2.1% loss as it closed at US$89.90 for the first time in more than six months. At the end of Wednesday's session at the New York Mercantile Exchange (Nymex), futures contracts for WTI for July delivery were off US$1.97 from Tuesday's prices. The price of WTI is at its lowest since 21 October, and prices are down 14% so far this month. The lower price was brought about by the announcement that inventories were up by 900,000 barrels last week, reaching 382,500,000 barrels, the highest total in 21 years.
More... (http://www.dr1.com/index.html#8)
Nevertheless, Dominicans are so accustomed to fuel price increases that few seem to notice that international prices have actually been declining in recent weeks, and thus local prices should be dropping.
West Texas Intermediate, the benchmark oil for setting fuel prices in the Dominican Republic was priced below US$90 per barrel in trading yesterday, a 2.1% loss as it closed at US$89.90 for the first time in more than six months. At the end of Wednesday's session at the New York Mercantile Exchange (Nymex), futures contracts for WTI for July delivery were off US$1.97 from Tuesday's prices. The price of WTI is at its lowest since 21 October, and prices are down 14% so far this month. The lower price was brought about by the announcement that inventories were up by 900,000 barrels last week, reaching 382,500,000 barrels, the highest total in 21 years.
More... (http://www.dr1.com/index.html#8)