The Ministry of Industry, Trade and Mipymes has ordered that fuels be at the following prices by the week of 12 to 18 September:
Rates below:
The average exchange rate is RD $58. 46 based on a survey conducted through the Central Bank.
International rates:
The West Texas barrel, a benchmark in the United States, showed instability this week following a 7. 6% drop after a long weekend marked by the Labor Day holiday, but the next day, Wednesday, September 9, it closed with a 3. 5% hike.
The behaviour of the oil market over the past 4 months has been tarnished by euphoria and not by convincing statistics on the effect of reopening businesses after COVID-19 closure measures since March this year. through the decline of 38 million barrels of crude oil over the more than 6 weeks through U. S. refineries, which appear to be operating at general levels this summer without acknowledging that pandemic restrictions have particularly altered consumer behavior.
The fall in value this week was also due to a drop in official promotion values from Saudi Arabia to Asia. In early August, Asian buyers, basically Chinese, were very disappointed when Saudi Arabia was unable to lower its promotion values in September to the extent expected. seeks to correct the disconnection observed in August with a sharp drop in its promotion values for the month of October.
In addition, the accumulated 3 million-barrel inventory wonder of the week of September 4, as reported by the American Petroleum Institute (API), also contributed to the fall in costs this week.
COVID-19 expansion, lower costs in the Middle East, and widespread fear of call for recovery add to data from the American Petroleum Institute, which is in the domestic fuel market.
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