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Haiti - Economy : Towards a worsening of the fuel crisis
13/08/2022 09:53:25

Haiti - Economy : Towards a worsening of the fuel crisis
Marc-André Dériphonse, President of the National Association of Service Station Owners (ANAPROSS) believes that a worsening of the fuel shortage currently affecting the country is to be expected due to the decrease in the volume of imported fuels.

Marc-André Dériphonse, is concerned about the low quantities requested by the companies that manage the importation of these products and believing that this could be linked to the difficulties of quick access to dollars in sufficient quantities... underlining "The American currency is not only expensive, but also increasingly rare" (BRH: 127.2207 average acquisition rate August 13, 2022 for 1 dollar) while on the informal market, the rate has crossed the bar of 150 gourdes for 1 dollar.

Since January 2022 the national currency has depreciated by more than 33%, so it currently takes more Gourdes to buy dollars. An exchange rate that penalizes oil companies, which pay their bills in dollars, emphasizes Dériphonse

Another worrying sign, Varreux, Haiti's main oil terminal, has almost halved its fuel delivery volumes, from an average of 1 million gallons of fuel per day in July 2022 to an average of 500,000 gallons per day in August.

The President of ANAPROSS points out that two of the oil companies have not placed orders for the next delivery which should arrive in mid-August with 60,000 barrels of diesel and 32,000 of kerosene, which represents a consumption of approximately 6 days...

For his part Randolph Rameau, the President of the Association of Petroleum Professionals (APPE) is even more worried and speaks lucidly of possible bankruptcies of oil companies and gas stations in Haiti https://www.haitilibre.com/en/news-37309-haiti-economy-oil-companies-and-gas-stations-could-go-bankrupt.html

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