DACO announces new drops in gasoline and diesel prices

DACO Secretary of the Department of Consumer Affairs, Aidan Rivera Rodriguez, reported Thursday that for two consecutive days, the reference markets for gasoline and diesel closed lower, implying a 7% decrease compared to what prices were on Monday. .

“Reference markets are still volatile, but we have a certain downtrend of about two weeks that is reflected in wholesale and retail prices,” the minister said in a press release.

“In Puerto Rico, we are seeing a more significant decrease than those reported in Europe and the United States,” he said.

Rivera explained that the implementation of the crudita exemption was an important component, as it “forces the freeze on DACO profit margins to remain in place, and this has made it possible to ensure that the exemption reaches the pump price that the consumer pays.”

Petrol prices at the pump on July 14, 2022, according to DACO. (Dako)

The director of the Department of Economic Studies at DACO, Hector Roman Maldonado, confirmed that “the highest prices were reported on June 10, when regular gasoline was sold at $1.38, while these days we have stations have dropped to $1.01 for this type of product.”

He stressed that “the market decline, along with the tax exemption, led to a rise in pump prices that we have not seen since April 22.”

The official explained that according to the reports provided by the wholesalers, so far 12.5 million gallons of fuel of all brands have been distributed at service stations across the island, exempt from paying some excise taxes.

According to the pricing tables published today by DACO, all-day gas stations will offer maximum prices ranging from $1.03 to $1.09 for regular gasoline, between $1.08 and $1.29 for premium gasoline, and between $1.19 and $1.29 for diesel.

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