economy

Gas up, cargo down

la prensa

Manzanillo International Terminal.1000892

With the increase of 27 cents in the price of gas that takes effect starting today, the cost of a gallon of diesel at the pumps will fluctuate between $3.64 and $3.81, according to the consumer protection agency Autoridad de Protección al Consumidor y Defensa de la Competencia.

The price of regular gas will hit a similar high, with increases of 9 cents per gallon on 95 octane fuel and 4 cents on 91 octane. The price of a gallon of 91 octane will rise to between $3.55 and $3.60, while the price of 95 octane will hover between $3.79 and $3.88.

The government's Gaceta Oficial reported yesterday that public transportation drivers in the interior of the country will get a subsidy of 25 cents to offset the rise in fuel costs.

With news of an increase in gas prices comes a report that the movement of cargo through the national port system contracted by 3.1 percent in Jan. 2008 as compared to Jan. 2007, according to the Contraloría General de la República. The drop reflects a decrease in bulk grain shipments. The volume of containerized cargo, however, rose 11 percent during the same period.