The San Juan Daily Star
DACO credits suspension of ‘la crudita’ in part for lower gas prices
By The Star Staff
Consumer Affairs (DACO by its Spanish acronym) Secretary Edan Rivera Rodríguez announced Thursday that for two straight days the reference markets for gasoline and diesel have closed lower, which has meant a reduction of 7% in prices compared to what they were on Monday.
“The reference markets remain volatile, but we have had a certain downward trend for about two weeks, which has been reflected in both wholesale and retail prices,” Rivera Rodríguez said in a written statement. “In Puerto Rico, we are seeing even more notable reductions than those reported in Europe and the United States.”
The DACO chief noted that the entry of the Joint Resolution that greenlighted a temporary exemption on the tax on fuel known locally as “la crudita” has been an important element since “it forces the freezing of DACO profit margins to remain in force, and that has made it possible to ensure that the relief arrives directly at the pump price paid by the consumer.”
Héctor Román Maldonado, director of the DACO Economic Studies Division, added that “the highest prices were reported on June 10, when regular gasoline was sold at $1.38, while these days we have had stations that have dropped to $1.01 for that type of product.”
Román Maldonado said “the market declines, along with the tax exemption, have resulted in pump prices that have not been seen since April 22.”