“Sharp reduction” in the price of gasoline: some gas stations would have the regular one at 87.7 cents Code List

The fall in the cost of a barrel of crude oil has caused a “marked reduction” in the price of a liter of gasoline at pumps, the Department of Consumer Affairs (DACO) reported Tuesday.

According to the agency, some gas stations—Ecomaxx, 76, and Phillips brands—would have regular gas for 87.7 cents.

In that same follow-up, the highest price in pumps would be 91.7 cents, in the Total, Texaco, Sol/Mobil and Sol/Shell brands.

As for premium gasoline, prices fluctuate between 99.7 and 110.7 cents. Meanwhile, diesel is from 109.7 to 122.7 cents.

These prices are for those stations that refuel today. For its speculations, the agency takes reasonable profit margins into consideration.

“During the last few days we have observed how the price of a liter of gasoline at the pump has experienced a marked reduction. Today we have a drop, placing 87.7 cents per liter in regular gasoline. This is great news for our consumers.”expressed the designated secretary of DACO, Hiram Torres Montalvoin written statements to the press.

Currently, the barrel of crude had a reduction compared to last week of 0.24% and is at $78.80as cited by the agency of the data available in the markets for speculation on the price of oil.

However, Torres Montalvo indicated that he will continue to monitor the behavior of the market, which is still aware of the conflict between Russia and Ukraine, as well as recent events in China.

Double price for consumers?

In second place, The Gasoline Retailers Association stated that it would go to court to try to implement a double price system in the cost of gasoline in Puerto Rico.

This means that those who pay in cash will have a price and those citizens who use credit, debit or other electronic means will see a slight increase.

“This is something that we will be discussing in depth with retailers, to assess how we can help, as long as the consumer is not affected.”added the secretary.

The official also announced that tomorrow, Thursday, he will have a meeting with the Association of Gasoline Merchants and with independent gas station operators with the purpose of “opening direct channels of communication.”