Gasoline and regular diesel prices to rise in Dominican Republic

The Dominican Republic will see an increase in fuel prices starting August 15, with regular gasoline and diesel rising by 3 Dominican pesos per gallon. Regular gasoline will now retail for RD$307.50, and regular diesel for RD$259.80.

Despite this adjustment, the Ministry of Industry, Commerce, and Mipymes (MICM) stated that current prices remain below those set on June 13, when a 90-day price freeze was implemented as part of an anti-crisis plan. The ministry noted that the refining margin for gasoline has increased by 26% and for diesel by over 64% since the U.S.-Iran conflict.

The government reaffirmed its commitment to maintaining capped prices as long as oil remains below $95 per barrel, ensuring the sustainability of the Anti-Crisis Plan. Other fuel price adjustments include an increase of RD$4.96 for Avtur (to RD$286.46 per gallon) and RD$5.10 for kerosene (to RD$324.60 per gallon). Fuel oil #6 saw a smaller increase of 0.88 pesos, selling at RD$159.06.

Prices for premium gasoline (RD$341.10), optimal diesel (RD$293.10), liquefied petroleum gas (GLP) (RD$135.20 per gallon), and natural gas (RD$43.97 per cubic meter) will remain unchanged. Fuel oil 1% will decrease by RD$2.62, selling at RD$190.03.

To counter rising international fuel costs, the government has allocated an additional RD$1,087.9 million in fuel subsidies for the current week. The MICM detailed that the government is subsidizing each gallon of GLP by RD$15.78, premium gasoline by RD$9.97, regular gasoline by RD$33.36, regular diesel by RD$86.89, and optimal diesel by RD$78.39. Year-to-date, these fuel subsidies have surpassed RD$26 billion.