BTN News: In a significant move aimed at cushioning consumers from the volatile fluctuations of the global oil market, the Dominican government, through its Vice Minister of Internal Commerce, Ramón Pérez Fermín, announced on Friday that it will continue subsidizing various fuels. This decision underscores the government’s commitment to protecting the financial stability of Dominican families by absorbing a substantial portion of the international price increases of petroleum products. By maintaining these subsidies, the government is ensuring that fuel prices remain stable for the public, despite the pressures from rising costs on the global stage.
The government has meticulously allocated these subsidies across different types of fuel to mitigate the potential impact on the average consumer. For instance, a subsidy of nearly 15 pesos per gallon has been applied to regular diesel, which is a significant relief for consumers who rely on this fuel. The more refined diesel, known as optimal diesel, will receive a subsidy of 9.13 pesos per gallon. Meanwhile, regular gasoline is being subsidized at over 12 pesos per gallon, and premium gasoline, typically used in higher-performance vehicles, will see a subsidy of 5.86 pesos per gallon. Additionally, the widely used Liquefied Petroleum Gas (LPG) will continue to be subsidized with almost 15 pesos per gallon.
This strategic intervention by the government is not without its costs. The Vice Minister highlighted that this initiative represents a significant financial commitment, amounting to approximately 300.7 million pesos. This expenditure is deemed necessary to shield the Dominican population from the burden of international oil price hikes, which could otherwise translate into higher costs at the pump and increased living expenses.
Pérez Fermín emphasized that the government remains vigilant in monitoring global energy markets. He noted that the ongoing assessment of these markets is crucial to making informed decisions that prioritize the well-being of Dominican citizens. “Despite the challenges posed by the fluctuations in the energy markets, we remain steadfast in our mission to protect Dominican families and ensure equitable access to fuel,” he affirmed.
As for the current pricing update, the Vice Minister confirmed that several fuel prices will remain unchanged due to the subsidies. Premium gasoline will continue to be sold at 290.10 pesos per gallon, and regular gasoline at 272.50 pesos per gallon. Regular diesel will stay at 221.60 pesos per gallon, and optimal diesel will maintain its price at 239.10 pesos per gallon. However, some fuels will see a reduction in prices. Aviation fuel (Avtur) will decrease by 4.20 pesos, now priced at 187.94 pesos per gallon. Kerosene will drop by 4.80 pesos, bringing it to 216.70 pesos per gallon. Fuel oil #6 will be reduced by 3.99 pesos, setting its price at 157.14 pesos per gallon, while Fuel oil 1%S will see the most significant drop of 5.15 pesos, bringing it to 171.83 pesos per gallon. The price of Liquefied Petroleum Gas (LPG) will remain stable at 132.60 pesos per gallon, and Natural Gas will continue to be sold at 43.97 pesos per cubic meter.
This decision to maintain subsidies is a clear indication of the government’s resolve to prioritize the economic welfare of its citizens in the face of global market instability. By absorbing these costs, the government is effectively shielding consumers from the immediate impacts of international oil price surges, ensuring that daily life and the cost of living in the Dominican Republic remain as unaffected as possible.
