Puerto Rico experiences a drop of six cents in gasoline costs this week

San Juan, May 11 (EFE) .- Puerto Rico will experience this week a drop in the cost of gasoline of up to 6 cents per liter due to falls in the reference markets, said this Wednesday the secretary of the Department of Consumer Affairs ( DACO), Edan Rivera.

«After a weekend with historic prices, the drop of up to six cents per liter in just two days represents an important relief for consumers’ pockets,» Rivera said in a press release.

According to Rivera, for the second consecutive day and after several days in which fuel prices reached record figures worldwide, the reference markets experienced falls that would translate into immediate relief for the local consumer.

Given this, he explained that any station that has been replenished with product between Monday and Tuesday of this week, must show pump sales prices of up to six cents less per liter.

Currently, the price of regular gasoline in Puerto Rico fluctuates between 1.12 and 1.19 dollars, while premium ranges between 1.18 and 1.31 dollars and diesel between 1.24 and 1.50.

Regarding the issue of prices, Rivera explained that, in January and February of this year, pump sales prices in Puerto Rico used to be higher than in the United States.

«Because we froze the margins, at the end of February we were able to reduce that difference and, at the local level, we are currently below the national averages,» he said.

«As an agency, we could not allow the war to be an excuse to arbitrarily raise consumer prices,» he added.

However, he acknowledged that «the current volatility in crude oil prices makes it impossible to ensure that the trend with which it began this week is maintained, and it is likely that the fluctuations will continue.»

Rivera, in turn, mentioned that since February 24, the DACO has in force an order to freeze profit margins in wholesale and retail prices of gasoline, diesel and liquefied gas.

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According to Rivera, this order «makes it possible to avoid speculation, ensure that any fluctuation in prices is due to changes in the reference markets, and, mainly, ensure sufficient inventory to meet local demand.»

As for fuel supplies on the island, Rivera stated that there is gasoline and diesel to fully cover demand for about a month, and a shortage scenario is not in sight in the short term.

«In the particular case of diesel, which has raised concern in some sectors, in addition to the inventory that is already stored on the island, there is certainty in terms of replenishment before the end of the month,» he said.

(c) EFE Agency