Oil exceeds the barrier of $ 115 and poses new challenges to the country

Santo Domingo, d.

barrel price Texas Oil (WTI) closed yesterday at $115.31Exceeding the limits set by the government to maintain the subsidy and not transfer its true costs to consumers.

At the beginning of the day this Tuesday in global markets West Texas Intermediate crude reached $119.98, According to international agencies, creating a state of tension and uncertainty for economic actors, But at the end of the day the price of crude oil fell to $115.31 barrel, according to Bloomberg. Brent oil price reached 125.28 USD and closed at 122.84 USD.

Support up to $115
In the first week of March, when the price of a barrel of crude oil approached $120 ($119.40), And the President of the Republic, Louis Abenader, announced to the country that the government will remain frozen for a period of four monthsThe price of a barrel remained between $85.00 and $115.

Any price movement Above 115 USD per barrel to local priceswithout including value tax in its calculation,” the president indicated in a speech addressed to the nation by a chain of media outlets.

The aim of the announcement was to reassure the population, which has been suffering since mid-2021 from the high prices of basic necessities as a result of high inflation rates.

four months
The announced measure And on Monday, March 6 this year, it will be maintained for a period of four months and include increasing the subsidy granted to public transport drivers to avoid increasing tickets for residents.

So far this year, the government has allocated S$14.708 million for fuel subsidies, Thus reducing the impact of high fuel prices on the rise in the price of a barrel of oil.

According to the information provided by the Ministry of Industry, Trade and Micro, Small and Medium Enterprises, in the first week of May, the amount of support represents 80% of what was provided for these purposes in 2021.

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