According to information from the Costa Rican Central Bank (BCCR), the increase in the number of barrels consumed was 6%, going from 8.89 million to 9.57 million.
"In 2011, BCCR forecasts the country's oil bill to increase 14.8%, making it the main cause of the balance of payments current account deficit. In the first half of the year the price is predicted to be around $93.10 per barrel," reports La Prensa Libre.
In the first two months of the year, imports totaled $197.1 million, 80.7% more than in the same period of 2010.
The increase in the price of fuel will affect companies' transport costs and these in turn will impact product prices in a kind of domino effect.
Crude oil imports rose 4% in volume terms but in economic terms this equates to $200 million, 80% more than the amount purchased in the same period last year, since the price of a barrel has gone up to $90, according to a report from the Nicaraguan central bank (BCN).
In the first eight months of the year oil imports rose to $ 987.8 million, 49.4% higher than the $ 661 million from the same period in 2009.
Traders and analysts attributed the increase to basically two factors, a higher price and an increase in domestic demand.
Daniel Choto of Elsalvador.com writes, "The greatest concern is that international crude price remained at around $ 75 during the period, well above-average closing price of late 2009, in which it went down substantially from the highs reached on July 11, 2008, when it reached $147 a barrel.”
2010 imports totaled $ 1.486.8 million, $ 335 million more than 2009.
By type of fuel, diesel leads with 33.8%, followed by bunker with 31% and gasoline with 26.7%.
Government projections for 2011 expect a 30% increase, reaching $ 2.000 million.
"In the opinion of the president of the Central Bank of Honduras (BCH), María Elena Mondragón, the population is now forced to carry out cost-saving measures, as well as the state and government", reported Latribuna.hn.
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