Haiti - Economy : Towards an upward revision in fuel prices - HaitiLibre.com : Haiti news 7/7

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Haiti - Economy : Towards an upward revision in fuel prices
30/06/2014 14:23:24

Haiti - Economy : Towards an upward revision in fuel prices
Since January 2010, in order to maintain economic stability, Haiti has made ​​no adjustment in fuel prices, whose it compensates the increases through subsidies. Note that on the 8 billion gourdes deficit recorded during the 2012-2013 fiscal year, 6.9 billion is attributable to petroleum subsidies.

In Haiti, a gallon of gasoline sells for more than 20% cheaper than the Dominican Republic and Diesel less than 15%, which benefits a part of the economy of our neighbors, who do not hesitate to supplies of cheap fuel in Haiti, while in the DR, the fuel prices are adjusted regularly, in functions of international market fluctuations.

Given the almost constant upward trend in oil prices globally, due to geopolitical tensions in some producing countries, the Haitian government continues to dig its deficit by subsidizing both the Haitian and Dominican consumer !

An unsustainable situation in the long term, for the Government, which currentlyconsults on measures to be adopted for a revision of prices of petroleum products. Of decisions undoubtedly difficult and unpopular to take, in a context where social peace and the economy is fragile and an increase in the pump could well serve as a detonator to new social disorder, especially with an opposition that awaits the slightest pretext.

SL/ HaitiLibre

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