Puerto Rico drivers saw gasoline and diesel prices fall this week, driven by a drop in the price of a barrel of oil, but the relief may not hold. Luis Gueits, president of the Gasoline Retailers Association, said the barrel price fell about $18, from around $104 on October 30 to a little over $86 on Wednesday, November 11.
According to the Department of Consumer Affairs (DACO), regular gasoline now ranges from $1.00 to $1.04 per liter ($3.79–$3.94 a gallon), down from $1.10 to $1.15 on October 30, while premium ranges from $1.14 to $1.24 ($4.32–$4.69 a gallon), down from $1.24 to $1.35. A consumer buying 30 liters of regular gasoline would pay between $30.00 and $31.20, compared with $33.00 to $35 at the end of October, a saving of roughly $3.00 to $5 when comparing the minimum prices of both dates.
Diesel also fell, less sharply, from $1.46 to $1.50 per liter ($5.53–$5.68 a gallon) on October 30 to $1.31 to $1.40. Gueits attributed the drop to announcements of higher crude production, the effects of the United States midterm elections and President Donald Trump’s statements on the war in Iran. He said diesel faces refining and inventory problems worldwide and warned that the oil market is highly volatile and subject to political, economic and military events, so the downward trend could reverse.