iciHaiti - Economy : Why the fuel prices do not fall at the pump ?

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iciHaiti - Economy : Why the fuel prices do not fall at the pump ?
24/08/2015 12:45:06

While a barrel of crude has plunged to less than 40 US dollars, its lowest price since 6 years, prices at the pump for consumers not decreasing.

The main cause of this situation lies in the depreciation of the national currency. It is indeed necessary today to have 51.5 gourdes to buy US dollars. Oil is paid in dollars, it takes more and more gourdes, to supply the Haitian market, offsetting the benefit of lower oil products.

"This situation is likely to persist as long as the importers will not be reassured by a stable exchange rate in Haiti" this is what said the former Ministry of Finance Jean Marie Marie Camelle, which recommends the establishment of structural measures for a real and permanent enhancement of the Gourde.

IH/ iciHaiti