The range of prices at the pump per liter of regular gasoline in Puerto Rico was positioned today, Saturday, between $1.23 and $1.26which translates to approximately six cents more than the fluctuation in prices reported last Saturday by the Department of Consumer Affairs (DACO).
Fuel costs on the island set new daily records, for a week, because a liter of this liquid had never been sold on the island for more than $1.15.
The secretary of the DACO, Edan Rivera Rodriguezexplained that the increase for this weekend is due to the fact that the international gasoline market closed yesterday, Friday, with new historical price records. He pointed out that the increase would translate into pump prices in Puerto Rico of between $1.24 and $1.27 per liter for gas stations that refuel during this weekend.
“The current volatility of fuel prices prevents us from projecting with certainty what we can expect for the next few days. Our responsibility as an agency is to keep the public informed, to ensure that there are sufficient supplies, both of gasoline and diesel; and, above all, continue with constant control so that there are no unjustified increases at any level of the distribution chain”, he indicated in a press release.
In addition to regular gasoline, the price range at the pump per liter of premium gasoline is between $1.29 and $1.35, while diesel fluctuates between $1.24 and $1.47according to the agency’s website.
Rivera Rodríguez also assured that before the marked increase with which gasoline closed on Friday, today the DACO inspectors are visiting stations to ensure that there are no increases at the pump before resupply.
The behavior of the cost of gasoline continues to be at the mercy of the efforts of oil production to meet the high demand for fuel after the embargo on derivatives of Russiaby the European Union. In addition, this Saturday’s increase coincides with the announcement of China to start lifting some of the restrictions it imposed in cities like Shanghai, the largest metropolis in that country, in the coming days, in the face of a rebound in COVID-19 infections.
Said scenario could increase the demand for fuel, which, in turn, would raise costs given the limited supply from oil-producing countries.
“In the framework of the war between Russia and Ukraine, no country in the world can, right now, control the volatility of the fuel market,” the secretary justified.
These are the maximum pump prices recommended by brand:
– Total regular $1.24, premium $1.35 and diesel $1.40
– shell regular $1.23, premium $1.34 and diesel $1.47
– Cougar regular $1.23, premium $1.34 and diesel $1.30
– Bull regular $1.23, premium, $1.32 and diesel $1.41
-Gulf regular $1.24, premium $1.33 and diesel $1.43
– Ecomaxx regular $1.26, premium $1.34 and diesel $1.24
– Bita’s regular $1.24, premium $1.32 and diesel $1.42
-American Gas regular $1.25, premium $1.29 and diesel $1.42
-Ultra Top Fuel regular $1.24, premium $1.32 and diesel $1.27
-Texaco regular $1.24, premium $1.35 and diesel $1.32
The increase in prices continues despite the order to freeze gross profit in the distribution of gasoline, diesel and liquefied gas, which is in effect until Saturday, July 2, 2022.
In addition, the implementation of the moratorium on the gasoline tax, known as the “crudita” has not had a favorable impact on the pockets of consumers, since, despite the fact that the governor Peter Pierluisi passed the moratorium into law, the Fiscal Oversight Board (JSF) expressed reservations about the language of the statute.
However, the director of the agency’s Economic Studies Division, Hector Roman Maldonadorecently explained to The new day that even if the “crudita” enters into force and, therefore, the tax is suspended, its impact will not be immediate on the prices of fuel derivatives, while its result will depend on the behavior of the oil market at the international level.