Un a meeting of leaders of the People’s Force (FP) party in Puerto Plata Fernandez expressed that if the government raised fuel prices when crude oil exceeded $100 per barrel due to the Middle East crisis, it should now pass on the savings to the domestic market.
“If gasoline prices increased by 18 percent when oil prices rose, why, now that oil prices are falling, isn’t the government lowering gasoline prices?” questioned the former president and head of the FP.
He believes the government’s purpose is to keep hydrocarbon prices high in order to have more fiscal resources available for political purposes. The opposition leader’s position contrasts with the policy announced by the Ministry of Industry, Commerce, and SMEs (MICM), which decided to freeze gasoline, diesel, and liquefied petroleum gas (LPG) prices for 90 days through a subsidy scheme designed to mitigate the volatility of the international market, according to the official version.
According to the institution, the measure will remain in effect as long as the price of a barrel of crude oil does not exceed $95.
The former president stated that the authorities justified the need for increased revenue because the fuel subsidy had already depleted the funds allocated for the entire year.
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