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Govt. agrees to fuel talks.

GOVT. AGREES TO FUEL TALKS. Gas stations ran low on fuel after the country's largest fuel company refused to replenish supplies in a bid to pressure the government to increase profit margins, reports AP (March 11, 2006). The National Association of Gasoline Retailers (Anadegas) resumed fuel purchases after the government agreed to hold talks, said Juan Ignacio Espaillat, the company's president. Anadegas, which runs 80% of Dominican gas stations, also wants the government to grant it licenses to sell propane and to correct alleged distribution violations, Espaillat said. Fearing shortages, the government raised the price of a gallon (3.78 liters) of gas from US$3.42 (euro2.87) to US$3.51 (euro2.95). Oil prices increased 1% to US$2.80 (euro2.35) a gallon. The nation of 8.8 million has faced chronic gas shortages in recent years. Gasoline prices rose by more than 25% last year and are among the highest in Latin America. Officials are trying to bring the country's consumption down from an estimated 165,000 barrels of oil a day in 2005, while negotiating to increase fuel purchases from countries including Russia, Venezuela and the Middle East.
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Title Annotation:DOMINICAN REPUBLIC
Publication:Caribbean Update
Article Type:Brief article
Geographic Code:5DOMN
Date:Apr 1, 2006
Words:194
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