Imminent increase in gasoline in Puerto Rico

Update: June 2, 2008:

Oil has gone up to $127 per barrel as of today. Last week it was at $135 per barrel.

Gas in Puerto Rico is currently averaging at $.987 per liter x 3.8= $3.7506 per gallon

In Europe, where a decades-old policy of heavily taxing oil products has resulted in gasoline and diesel retailing for $8 to $11 dollars a gallon, protests, blockades, and strikes by fishermen, farmers and truck drivers broke out across the continent last week.

NEW YORK – Gasoline held steady near an average $3.98 a gallon at the pump Monday as a recent slide in oil futures stalled gas’ advance to the $4 mark. Oil prices, meanwhile, rose on concerns about heating oil supplies and after an OPEC official said there’s no need for the cartel to pump more oil.

http://www.vocero.com/noticiasum.asp?id=11153

This is a translation of the Spanish article:

Imminent increase in gasoline ( in Puerto Rico )

(AP) – The increase in the price of oil, which today reached the dreaded mark of
$ 100, could be reflected at the pump in the country in about three days, said Carlos Crespo, a former president of the Association of Petrol Retailers.
More..( the article continues in Spanish )

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