Carlos Aquilino Duarte, director of Hydrocarbons for the Ministry of Economy, stated that due to problems in the development of software for collecting and processing data, they had to postpone the start until the end of the month.

"According to the official, the most significant change in the new mathematical equation is the elimination of some additional costs such as fees when paying with credit card, which is part of the distributors cost. Another major change is that in the current formula the profit margins by both distributor and Oil Company are put together and divided later, but this mechanism has caused a series of problems between both parties. Now, profits are separated on the basis of a financial model establishing a rate of return, which is calculated based on the operating costs of both parties," reports the article in Elsalvador.com.

Source: elsalvador.com

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Central America: Fuel Prices up to March 25

March 2019

Price per gallon of regular gasoline: Nicaragua $3.72, Costa Rica $3.57, Honduras $3.44, El Salvador $3.22, Guatemala $3.15 and Panama $2.79.

From the statement of the Ministry of Economy of El Salvador:

The increase in reference prices for this fortnight is because gasoline inventories have experienced their largest decline since February until the last weekly report provided on Wednesday March 20 by the IEA.

Gas Prices in Central America

May 2014

Price of a gallon of regular gas: $4.88 in Costa Rica, $4.83 in Nicaragua, $4.72 in Honduras, $4.28 in Guatemala and $4.18 in El Salvador.

From information published by the Ministry of Economy of El Salvador (MINEC):

MINEC announces new variations on the reference prices of petrol and diesel.

Gas Prices in Central America

February 2014

Prices of a gallon of regular gas: $4.73 Costa Rica, $4.53 Nicaragua, $ 4.51 Honduras, $4.06 Guatemala and $3.95 in El Salvador.

Information published by the Ministry of Economy of El Salvador (MINEC):

MINEC announced reductions in reference prices for gasoline and diesel.

Funes Rules Out Freeze on Fuel Prices

March 2011

The Salvadoran President ruled out the possibility of freezing fuel prices which have reached $ 5 a gallon.

When asked about the additional increase announced by the Ministry of Economy, Funes said: "We will not issue a decree to freeze prices. We do not want to intervene abusively in the market (...) the Economic team is working on a solution to the situation."