NewsWhore
03-10-2008, 02:30 PM
With the price of oil reaching US$106 a barrel on the international market, the Dominican Republic is facing the very real possibility of having to spend US$150 million on its electricity sector subsidies program. This warning comes from superintendent of electricity Francisco Mendez. Mendez told reporters from El Nuevo Diario that this is nearly three times the US$60 million allocated to the electricity subsidy in 2007. In spite of the dire forecasts, Mendez said that the government is not considering increasing the electricity rates, already the highest in Latin America.
As many know by now, fuel prices skyrocketed over the weekend. The price of West Texas crude reached US$106 on the international market, and Dominican fuel prices increased by as much as RD$5.40 a gallon. However, since this is campaign season, the price of propane gas used in many taxicabs, automobiles and in home cooking, was kept at RD$59.95, the same price for over a month and a half. Premium gasoline went up by RD$4 a gallon; regular gasoline increased by the same amount; and kerosene went up by RD$5.40 a gallon.
More... (http://www.dr1.com/index.html#8)
As many know by now, fuel prices skyrocketed over the weekend. The price of West Texas crude reached US$106 on the international market, and Dominican fuel prices increased by as much as RD$5.40 a gallon. However, since this is campaign season, the price of propane gas used in many taxicabs, automobiles and in home cooking, was kept at RD$59.95, the same price for over a month and a half. Premium gasoline went up by RD$4 a gallon; regular gasoline increased by the same amount; and kerosene went up by RD$5.40 a gallon.
More... (http://www.dr1.com/index.html#8)