Five months after Luis Abinader to assume as constitutional president of the Republic, premium and regular gasoline have risen in price 14 and 13 times, respectively, according to an analysis carried out by Listín Diario.
While it is true that premium gasoline has dropped its price per gallon six times and regular gasoline seven, after November 28, 2020, the trend has continued to rise. A gallon of premium gasoline has risen RD $ 16.5 in five months and that of regular gasoline has been RD $ 13.6.
The first time it was the Abinader government’s turn to announce the price of gasoline was on August 21, 2020 and the value that it would have in the week of August 22 to 28 was established. At that time, premium gasoline cost RD $ 206.60 per gallon and regular gasoline RD $ 196.30, keeping its cost the same.
For the week of August 29 to September 4, 2020, the Ministry of Industry, Commerce and Mipymes (MICM) announced its first increase in premium gasoline that would be sold at RD $ 209.30 with an increase of RD $ 2.70 and the regular one that would cost RD $ 199.90, RD $ 3.60 more than the previous week.
After September 5 of last year, the price of gasoline kept rising and falling, but as this was the dynamic, when comparing how much gasoline cost since the beginning of the Abinader government with the following weeks, the difference was not very marked.
It is so so that a few weeks the price of gasoline came to be below what had begun to be sold at the beginning of the current government administration, and here is an example as a proof of this.
Premium gasoline from August 22 to 28, 2020 was sold at RD $ 206.60 per gallon, but from November 14 to 20 it cost RD $ 202.4 and from November 21 to 27 it was worth RD $ 204.30, that is, premium gasoline had been maintained in the same price range although it rose in some weeks and decreased in others.
The same thing happened with the regular one, since from August 22 to 28 it cost RD $ 196.30, while from November 21 to 27 it had dropped to RD $ 191.70.
However, another rooster began to crow from November 28, date in which premium and regular gasoline increased RD $ 2.10 each per gallon and as more they have never decreased again, for this week from January 16 to 22 The premium gallon will be offered at RD $ 223.10 and the regular one at RD $ 209.90.
Only in these last eight weeks gasoline rose RD $ 18.8 per gallon for premium and regular RD $ 18.2. These increases have been gradual. Let’s see the history of its cost in this period:
Week of November 28 – December 4, 2020
Premium gasoline: RD $ 206.40; going up RD $ 2.10
Regular gasoline: RD $ 193.80; going up RD $ 2.10
Week of December 5-11, 2020
Premium gasoline: RD $ 208.90; going up RD $ 2.50
Regular gasoline: RD $ 196.30; going up RD $ 2.50
Week of December 12-18, 2020
Premium gasoline: RD $ 211.50; going up RD $ 2.60
Regular gasoline: RD $ 199.00; going up RD $ 2.70
Week of December 19-25, 2020
Premium gasoline: RD $ 213.70; going up RD $ 2.20
Regular gasoline: RD $ 200.90; going up RD $ 1.90
Week of December 26, 2020 – January 1, 2021
Premium gasoline: RD $ 217.20; going up RD $ 3.50
Regular gasoline: RD $ 203.90; going up RD $ 3.00
Week of January 2-8, 2021
Premium gasoline: RD $ 217.20; keeping the same price
Regular gasoline: RD $ 203.90; keeping the same price
Week of January 9-15, 2021
Premium gasoline: RD $ 220.00; going up RD $ 2.80
Regular gasoline: RD $ 206.70; going up RD $ 2.80
Week of January 16-22, 2021
Premium gasoline: RD $ 223.10; going up RD $ 3.10
Regular gasoline: RD $ 209.90; going up RD $ 3.20
The explanations of the authorities
The MICM, given the increase in gasoline prices for the week of November 28 to December 4, 2020, explained this was in response to the increase in the reference oil barrel of US $ 2.28 on average and the good news for the vaccine of COVID-19.
The following week, the MICM’s reason for the increase in fuel prices was the optimistic euphoria of world stocks in the oil market, unleashed by the approval of the Pfizer vaccine.
In the week of December 12 to 18, 2020, the justification for the increase was that the benchmark crude in the United States had declined with investors pending the new measures against the coronavirus, having a slight increase of US $ 0.60 per gallon.
From December 19 to 25, 2020, the explanation was that the rise in the price of reference crude in the United States had been impacted by the start of mass vaccinations against COVID-19.
For the week from December 26, 2020 to January 1, 2021, an increase in the price of fuels was generated due to the global uncertainty due to the new strain of COVID-19, according to the MICM.
The state agency reported that from January 2 to 8, 2021, fuel prices would remain unchanged because the State assumed commitments to importers amounting to RD $ 68 million to avoid transferring them to the final consumer.
From January 9 to 15, 2021, gasoline increased as a barrel of Texas oil rose above $ 50 for the first time since February 2020.
The latest increase and the government response
The MICM argued that the Government is assuming 70% of the increase in fuels in the week of January 16-22, since a barrel of oil is above US $ 53.
The Vice Minister of Internal Trade of the MICM, Ramón Pérez Fermín, explained: “This means that, for example, premium gasoline, instead of raising RD $ 10.37 per gallon, will only do so by RD $ 3.10. The same with regular gasoline, where again, the Government will assume 70% of the increase, which means that instead of raising RD $ 10.51 per gallon, it will only do so at RD $ 3.20 ”.