Gas prices rise again in Dominica
Dominican drivers now have to pay an additional five cents per gallon at the pump. Yesterday prices increased from $12.06 to $12.11 per gallon.
On April 19 2015 the Sun reported that petrol prices had jumped by $1.78 to $12.06 per gallon. That was the first period since January 2015 that price had moved upwards; before then prices had been tumbling.
In early January, for instance, the price of a gallon of gasoline was $11. 42; in early February it was $10.47 and then in early March it went down to $10.28 before jumping up to $12.06 per gallon.
Here's a summary of petrol price fluctuations in Roseau in 2015
January - $11.42
February - $10.47
March - $10.28
April - $12.06
Obviously these local prices are a direct reflection of the prices of crude oil on the world market where analysts say supply and demand are coming back into balance but there's still a large oversupply of crude oil on the world market that keeps a lid on rapid price increases.
"One thing is certain, we've probably crossed the bottom of this cycle for Brent and that it should trade above $60 with a very gradual climb upwards," said Gaurav Sharma in an article in Forbes published on May 15 entitled: "Sustained Oil Price Rally Won't Materialize Anytime Soon".
"That is probably as far we would get with 2015 turning out to be predictably dull year," Sharma wrote.