San Juan, 18 Mar Puerto Rico reported an increase of between 3 and 6 cents per liter in the price of gasoline in those stations that purchase fuel this Friday, exceeding the dollar in the cost of liquid for the first time in five days. Thus, the sale price of regular gasoline on the island should be around $1.04 to $1.06 per liter this Friday, the Department of Consumer Affairs (DACO) said in a press release. As explained by DACO, one of the reasons for the increase is the market's ability to meet demand without having Russian oil, as sanctions imposed on the European country predict a loss of 3 million barrels a day of supply. Other reasons are the surprising reduction of US oil reserves and the escalation of shelling in Ukraine, which prolongs the war scenario that in the past few days seemed to have diminished, the DACO added in the statement. The DACO, in turn, clarified that because a profit margin freeze is in place, any service station that purchased product at a lower cost cannot change its sales prices to the consumer until it purchases fuel at another price. It was DACO Secretary Edan Rivera who extended on Thursday until March 27 the order to freeze gross profit margins in the face of an apparent stabilization in oil prices. CHIEF jm/cpy
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