Spanish
The Dominican government is analyzing the possible budget reallocations it will have to make to deal with the increases in oil and fuel prices in international markets.
This was indicated by the Minister of Finance and Economy, Magín Díaz, who reported that the RD$16 billion initially planned to subsidize fuels throughout 2026 would have to be increased.
"We have enough budgetary space to deal with it," the minister pointed out.
Likewise, it believes that the most impacted sectors could be energy, transportation, and food supply chains.
As the governor of the Central Bank said, that institution is closely monitoring the situation to take measures in the most cautious and effective way possible.
"Oil rose more than one would have expected... In the United States and Europe, gasoline has just gone up... There will be inflationary problems in the United States... The Dominican Republic must be attentive," declared the governor.
Oil prices rose again on Tuesday in the Asian market a day after falling, amid investor concerns about the situation in the Strait of Hormuz.
At around 00H30 GMT, the West Texas Intermediate (WTI) crude oil barrel, the benchmark for the US market, rose 1.95% to $95.32, after falling 5.3% the previous day.
North Sea Brent, a benchmark for the world market, rose 1.84% to $102.05 a barrel, after falling 2.8% on Monday.
The International Energy Agency (IEA) agreed last week to release up to 400 million barrels of crude oil from the reserves of its member countries, and Japan began releasing its share on Monday.
