Fuel prices are RD$19.85 more expensive in DR than in CA
Study indicates that this affects local business competitiveness
Diario Libre
SANTO DOMINGO. Fuel cost an average of RD$19.85 more in the Dominican Republic than they do in Central America, which is another of the elements that affects the ability to compete by the Dominican industrial sector in relation with other countries.
According to a study created by the Henri Hebrard Consultants, taking as a reference the week of 25 January of this year, there is a progressive increase in the gap to the detriment of the Dominican Republic, since in the price of the local fuel basket, excluding LPG, went up from RD$162.70 to RD$165.59, which is a 1.72% increase in relation to the week before.
On the other hand, the average in Central America increased more moderately, going from RD$143.58 to RD$145.74, an increase of 1.50% during the same period. The average price for premium diesel fuel in Central America is RD$156.71; Premium gasoline is much lower than the RD$182.90 that it costs in this country.
Likewise, the average of regular gasoline in the region is RD$150.24 and in the DR it is RD$172.80; regular diesel is at RD$140.32 and in the country it is at RD$157. All told, premium gasoline is RD$26.19 or 16.71% less expensive and regular is RD$22.56 or 15.01% less.
Regular diesel costs RD$16.69 or 11.88% less than in the DR. The only fuel in the Dominican Republic that is less costly than in Central America is the LPG, since the average in Central America is RD$96.78 and here is it "only" RD$93.80.
This situation, according to the study, puts makes it clear that the increase in the price of oil aggravates the problem of competitiveness with relation to the Dominican economy.
For this week, the prices of fuel are the same as last week, without including the prices of jet fuel, such as avtur and kerosene and fuel oil which increased between RD$5.00 and RD$5.16 a gallon, which could affect the tourism industry and has caused an alert to be issued by the National Association of Hotels and Restaurants (Asonahores) that fears a negative impact on the availability of flights to this country.
The oil bill closed out 2010 at US$3.464 billion, which represents a 31.1% increase in relation to 2009 when the imports cost the country US$2.641 billion, according to the preliminary report on the economy from the Central Bank. Nevertheless, fuel consumption was 1,284, 586,794 gallons in 2010 and just 1,297,482,705 gallons in 2009, according to the Ministry of Industry and Commerce.
Crude oil prices
In the meantime, on the international markets, the prices of a barrel of crude oil have managed to stay around US$90.00 for the sixth consecutive week in a row, in spite of a slight downward movement last week. The average price in January was for US$90.09, a 2.54% increase over December's average price of US$87.86. This increase was due to the disturbances in several Arab countries that have shot up the price of a barrel of oil in Europe to US$95.00, with important impact on the New York market.
According to a study created by the Henri Hebrard Consultants, taking as a reference the week of 25 January of this year, there is a progressive increase in the gap to the detriment of the Dominican Republic, since in the price of the local fuel basket, excluding LPG, went up from RD$162.70 to RD$165.59, which is a 1.72% increase in relation to the week before.
On the other hand, the average in Central America increased more moderately, going from RD$143.58 to RD$145.74, an increase of 1.50% during the same period. The average price for premium diesel fuel in Central America is RD$156.71; Premium gasoline is much lower than the RD$182.90 that it costs in this country.
Likewise, the average of regular gasoline in the region is RD$150.24 and in the DR it is RD$172.80; regular diesel is at RD$140.32 and in the country it is at RD$157. All told, premium gasoline is RD$26.19 or 16.71% less expensive and regular is RD$22.56 or 15.01% less.
Regular diesel costs RD$16.69 or 11.88% less than in the DR. The only fuel in the Dominican Republic that is less costly than in Central America is the LPG, since the average in Central America is RD$96.78 and here is it "only" RD$93.80.
This situation, according to the study, puts makes it clear that the increase in the price of oil aggravates the problem of competitiveness with relation to the Dominican economy.
For this week, the prices of fuel are the same as last week, without including the prices of jet fuel, such as avtur and kerosene and fuel oil which increased between RD$5.00 and RD$5.16 a gallon, which could affect the tourism industry and has caused an alert to be issued by the National Association of Hotels and Restaurants (Asonahores) that fears a negative impact on the availability of flights to this country.
The oil bill closed out 2010 at US$3.464 billion, which represents a 31.1% increase in relation to 2009 when the imports cost the country US$2.641 billion, according to the preliminary report on the economy from the Central Bank. Nevertheless, fuel consumption was 1,284, 586,794 gallons in 2010 and just 1,297,482,705 gallons in 2009, according to the Ministry of Industry and Commerce.
Crude oil prices
In the meantime, on the international markets, the prices of a barrel of crude oil have managed to stay around US$90.00 for the sixth consecutive week in a row, in spite of a slight downward movement last week. The average price in January was for US$90.09, a 2.54% increase over December's average price of US$87.86. This increase was due to the disturbances in several Arab countries that have shot up the price of a barrel of oil in Europe to US$95.00, with important impact on the New York market.
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