DACO secretary announces extension of fuel profit margin freeze

By The Star Staff

Consumer Affairs Secretary Edan Rivera Rodríguez announced Thursday the extension of the Gross Profit Margin Freeze Order on fuel prices.

The price freeze will be in force until March 27.

“In recent days, the upward trend experienced in oil prices as a result of the armed conflict between Russia and Ukraine has begun to come under control,” the DACO chief said in a written statement. “This week constant declines have been reported that could be interpreted as the beginning of a return to predictability in the markets. The information on the prices should begin to be reflected at the pump, for those stations that refuel today.”

“Despite the apparent trend toward certainty in oil prices, it is still premature to lower our guard,” Rivera Rodríguez said. “In the same way that DACO acted responsibly by reporting the increases experienced worldwide, now it is up to it to ensure that the declines that are beginning to occur, both globally and in the local market, are duly transferred to the consumer.”