Fuel Prices in Central America Al May 8th, 2018  

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From a statement issued by the Ministry of Economy of El Salvador:

The reference prices for gasoline and diesel have had a mixed performance due to the ongoing volatility and instability of international prices of petroleum products. Clic para interactuar con la gráficaClic para interactuar con la gráfica

Uncertainty in the oil market is mainly due to recent geopolitical events that have set a standard for derivatives to increase in price, a case in point being the missile attack carried out by the United States against a military base in Syria. While Syria has limited oil production, its geographical location and alliances with major oil producers in the region mean that any escalation of the conflict has the potential to exacerbate fears of a shortage. However, in the words of experts, oil markets are saturated, despite efforts by the OPEC to reduce pumping and boost prices, which continue causing ups and downs in reference prices making them impossible to predict.

More on this topic

Central America: Fuel Prices up to November 20

November 2017

Price of gallon of regular gasoline: Costa Rica $3.85, Nicaragua $3.70, Honduras $3.45, Guatemala $3.14, El Salvador $3.07 and Panama $2.92.

From a report by the Ministry of Economy of El Salvador:

According to experts "The oil market tends to react with nervousness and upward pressure on prices in the face of episodes of political instability in the Middle Eastern producing regions", in Saudi Arabia [concerns] grew during the week when the highest authorities accused Iran, also a member of the Organization, of being behind a missile shot over the airport of the Saudi capital that was eventually intercepted. [GRAFICA caption="Click to interact with graphics"] 

Central America: Fuel Prices up to September 11

September 2017

Price of gallon of regular gasoline: Costa Rica $3.76, Nicaragua $3.68, Honduras $3.47, Guatemala $3.25, El Salvador $3.07 and Panama $2.79.

From a report by the Ministry of Economy in El Salvador:

For the present fortnight the reference prices for gasoline and diesel reflect an upward trend due to climatic factors that have hit the hydrocarbon market in the United States: [GRAFICA caption="Clic para interactuar con la gráfica"]   

Central America: Fuel Prices up to June 5

June 2017

Price of gallon of regular gasoline: Costa Rica $3.90, Nicaragua $3.69, Honduras $3.64, Guatemala $3.13, El Salvador $3.13 and Panama $2.74.

From a statement issued by the Ministry of Economy of El Salvador:

The reference prices for liquid fuels in El Salvador are being affected by an upward trend due to recent events that revolve around the latest OPEC meeting, where the 14 member countries along with 10 other countries producing oil and derivatives outside of the organization justified and maintained the decision to extend the extraction reduction until March 2018, together with a notice provided by the Energy Information Administration (EIA) on the reduction in inventories held by the United States by approximately more than 8 million barrels surpassing the expectations of analysts and international experts, also gasoline stocks fell by approximately 2.9 million barrels which has caused prices of gasolines to be the most affected by this upward trend. [GRAFICA caption="Clic para interactuar con la gráfica"]

Central America: Fuel Prices up to February 13

February 2017

Price of gallon of regular gasoline: Costa Rica $3.94, Nicaragua $3.47, Honduras $3.43, Guatemala $2.89, El Salvador $2.86 y Panama $2.70.

From a statement issued by the Ministry of Economy of El Salvador:

The volatility of international prices of products (gasoline and diesel) in the oil market persists, being the main factor affecting reference prices for fuels. It is worth noting that as final consumers we should be aware that the instability of oil prices and their fluctuations are permanent factors, making assertions and predictions about future prices unpredictable, however in the current fortnight trends in international prices have been caused by the following events: