DACO reports regular gasoline less than a dollar

August began with a decline in the reference markets for both gasoline and diesel, according to the Department of Consumer Affairs (DACO) on Tuesday.

At the close of trading on August 1, wholesalers notified the agency of declines in line with those reported by reference markets. These drops averaged $0.03 per liter for regular gasoline and $0.04 per liter for diesel.

With declines reported by wholesalers, DACO today reported maximum sub-dollar pump prices for regular gasoline.

The last time maximum gasoline prices were reported below a dollar was on March 17.

For its part, diesels will have maximum prices ranging from $1.12 to $1.22, depending on the brand, which is a significant drop compared to the $1.54 per liter cap reached in mid-June.

Petrol prices at the pump on August 2, 2022, according to the Ministry of Consumer Affairs. (Dako)

Prices reported today will apply to stations that are replenished during the day. The tables reported by DACO reflect the maximum prices taking into account the limit allowed as profit margin, so stations with prices lower than those mentioned in the mentioned tables can be found.

DACO noted that the volatility of the fuel market makes it impossible to guarantee that the prices announced today will be maintained. However, for about a month the reference markets maintained a certain downtrend.

According to reports from the Department of Energy, the market behavior is due to a decrease in demand, while the Federal Treasury attributes this to an increase in supply as a result of the sale of oil from the strategic reserves of the United States and other countries. Other analysts point to the fear of a possible recession.

At the end of July, DACO said, Puerto Rico’s fuel supply was about 20 days for regular gasoline (about 70 million gallons), 33 days for premium and 58 days for diesel.

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