DACO chief: Price of gasoline to fall
By The Star Staff
Consumer Affairs (DACO by its Spanish acronym) Secretary Edan Rivera Rodríguez announced on Monday an imminent drop in the price of gasoline on the island.
“At the close of Monday, March 28, importing wholesalers reported drops in sale prices that, for those stations that refuel today, will be reflected in a reduction in pump prices of up to 6 cents per liter of regular gasoline and 7 cents in the case of premium, and up to 8 cents per liter with diesel,” Rivera Rodríguez said in a written statement.
“The reductions reported at the local level reflect the behavior of the reference markets that, yesterday, reported a significant reduction in the price of a barrel of oil,” he added. “This change is mainly due to the ‘lockdown’ of Shanghai, the financial capital of China.”
The preventive measure in Shanghai in the face of a new outbreak of the coronavirus put a population of around 26 million inhabitants in confinement, which represents a significant decrease in the demand for fuel, and, consequently, a temporary relief to the upward trend that crude oil had maintained worldwide, Rivera Rodríguez noted.