May 19, 2022

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DACO reports fall in petrol prices

Drivers can fill the gas tank a little earlier today, Thursday Reduction from six to nine cents per literConsumer Affairs Department (DACO) Secretary Eden Rivera said yesterday that the reference markets to the wholesale price of fuel in Puerto Rico had closed with a significant fall.

The secretary noted that four out of five import wholesalers announced major reductions today.

“The reduction in the wholesale price will reduce the selling price of the pump by six to nine cents (0.06 – 0.09) per liter,” Rivera Rodriguez said today, “the decline in them will be obvious.

The Secretary-General outlined that the fall announced by the reference markets was in response to three factors to be considered in the context of the war between Russia and Ukraine:

1) Possibility to increase supply through OPEC (Organization of Petroleum Exporting Countries).

2) Possible talks between the United States and Venezuela.

3) Investor confidence in Russia’s willingness to end occupation.

Petrol price at the pump on March 9 and 10, 2022. (DACO)

“After several days of the upward trend, it is a great relief that the reference markets are reporting such a significant decline. However, it is important to know that fluctuations are likely to continue as long as the war continues,” the official stressed.

Rivera Rodriguez stressed, “In the uncertainty of the day, DACO’s duty is to inform the public that any fluctuation in the local market is a reflection of the behavior of the reference markets and not a product of speculation. Helps to clarify for consumers.

“Disabling profit margins was effective, mainly because it provides consumer protection without undue interference in trade,” the secretary said.

Rivera Rodriguez confirmed that the freeze order provides that any person deemed to have been affected by its provisions may submit a request for reconsideration.

“Currently, we have received only three requests of this kind, but all were noticed on the same day. We urge any person who thinks that the frozen margin is not enough to make their proposals through the means provided for it, ”he concluded.

DACO recommends brand-based petrol prices for March 10, 2022.
DACO recommends brand-based petrol prices for March 10, 2022. (Capture)
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