August started with a drop 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 lows in line with those reported by the reference markets. These declines averaged $0.03 per liter for regular gasoline and $0.04 per liter for diesel.
With the declines reported by wholesalers, today the DACO reported maximum pump prices below the dollar for regular gasoline.
The last time maximum prices for gasoline were reported below the dollar was on March 17.
Diesel, for its part, will have maximum prices between $1.12 and $1.22, depending on the brand, which represents a considerable reduction compared to the maximum of $1.54 per liter that was reached in the middle of last June.
The prices reported today will apply to the stations that are replenished during the day. The tables reported by the DACO reflect the maximum prices considering the limit allowed as a profit margin, so stations with prices below those reported in said tables could be found.
DACO pointed out that the volatility of the fuel market makes it impossible to ensure that the prices reported today will be maintained. However, for about a month the reference markets have maintained a certain downward trend.
According to reports from the Department of Energy, the behavior of the market has been due to a decrease in demand, while the Federal Department of the Treasury attributes it to an increase in supply as a result of the sale of oil from the strategic reserve of the United States. and other countries. Other analysts point to the fear of a possible recession.
At the end of July, fuel supplies in Puerto Rico were approximately 20 days for regular gasoline (about 70 million gallons), 33 days for premium and 58 days for diesel, DACO said.