June 14, 2021

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They will file a measure to investigate an alleged increase in the price of gasoline

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SAN JUAN – Popular representative Estrella Martínez reported this Sunday that tomorrow, Monday, they will file an investigation resolution on an alleged increase in the price of gasoline in Puerto Rico of ten cents between December 2019 and January 2020.

According to Martínez said in a press release issued this Sunday, the covid-19 pandemic has affected all commercial areas, and the fuel industry is no exception.

“Throughout the world, fuel prices have dropped, although not significantly,” said the president of the Lower House Committee on Consumer Affairs, Banking and Insurance.

However, the legislator detailed that in Puerto Rico, between December 2019 and January 2020, the price of gasoline increased by 10 cents, which is equivalent to about 40 cents per gallon, according to data published by the Department of Consumer Affairs (DACO).

Martínez, in turn, said that Carlos Crespo, president of the Gasoline Committee and Inspection Centers of the United Center for Retailers, pointed out “that the consumer is at the mercy of speculation, even when there are no conflicts in the Middle East, which is a factor that affects prices ”.

Martínez also said that by May 2020, the former president of the Gasoline Retailers Association, Ricardo Román, expressed that the price of gasoline had not dropped to the expected level as a result of the pandemic.

But, Martínez clarified that “there is a huge product offer and there has not been a reflection in the decline of that product for the consumer.”

According to a DACO report on gasoline prices, dated January 15, 2021, regular fuel prices have fluctuated between $ 57.74 per liter at Toral Gasoline and $ 61.20 per liter at Total Petroleum.

In the case of premium gasoline, it has fluctuated between 67.74. From Toral, up to 71.20 from Total Petroleum.

The legislator pointed out that by 2021, the international price of oil could range between $ 40 and $ 55 per barrel, according to industry representatives and rating agency Moody’s.

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