Dominican government allocates more than RD$1.3 billion in fuel subsidies to mitigate international price hikes
The Government of the Dominican Republic, through the Ministry of Industry, Commerce and MSMEs (MICM), has reaffirmed its commitment to the citizens’ economy by allocating an additional RD$1,312.31 million to subsidize fuel prices. This measure seeks to counteract the impact of fluctuations in the international market, allowing the final consumer to receive significant relief in their daily expenses.
According to official information, the State is absorbing increases reaching up to RD$101.48 per gallon on key products. With this new disbursement, the total amount invested in hydrocarbon subsidies so far this year already exceeds the figure of RD$27 billion.
The government’s effort ensures that, despite the geopolitical tensions affecting crude oil prices globally, the impact on the pockets of Dominicans remains controlled, reaffirming the commitment to the Anti-Crisis Plan initiated in June.
Fuel price adjustments
For the week of August 22 to 28, the MICM has ordered a limited adjustment of RD$3.00 on regular gasoline and regular diesel. On the other hand, premium gasoline, optimal diesel, Liquefied Petroleum Gas (LPG), and natural gas maintain their prices unchanged, providing stability to the productive and transportation sectors.
- Premium Gasoline: RD$341.10 (price remains unchanged)
- Regular Gasoline: RD$310.50 (up RD$3.00)
- Regular Diesel: RD$262.80 (up RD$3.00)
- Optimum Diesel: RD$293.10 (price remains unchanged)
- LPG: RD$135.20 (price remains unchanged)
- Natural Gas: RD$43.97 (price remains unchanged)
Other petroleum-derived products, such as Jet Fuel, Kerosene, and Fuel Oils, showed upward variations due to upward pressure in the international market, caused mainly by tensions between the United States and Iran, which have affected the stability of WTI Texas oil prices in the last month.
It is important to highlight that the Government continues to implement the Anti-Crisis Plan, keeping prices below the levels recorded during the freezing period established on June 13th. The average exchange rate for this calculation stood at RD$58.91, according to official figures from the Central Bank.
