El Salvador: Price referencing mechanism comes into force

Starting yesterday, and every Monday from now on, the Ministry of the Economy will publish the "official" price reference to regulate the fuel market.

Tuesday, September 9, 2008

The new mechanism announced yesterday by the Minister of the Economy, and the new director of petroleum and mining, Francisco Antonio Peña Rodriguez, includes a formula that considers at least four variables to determine the local price of a gallon of fuel sold at the pump.
According to the Minister, this system should improve competition and benefit consumers as they will "punish or reward the distributor" by buying gasoline or diesel at the gas station which has prices similar or lower than the reference price.

More on this topic

Only in Nicaragua fuel prices continue to grow

September 2008

The price of regular and super gasoline went up yesterday, while in the rest of the Central American countries they have had a significant decline.

Between Wednesday, September 3, and yesterday, Sunday the 7th, the price of fuel has gone down in Costa Rica, Honduras, El Salvador and Guatemala.

El Salvador: Lowest fuel prices in CA

November 2008

The price of oil in the international market and the local reference system have caused a reduction in gas prices.

The Ministry of Economy confirms that the country has managed to maintain some of the best ranked prices since they started to use the reference price system which provides weekly variations.

Fuel prices continue to rise in Nicaragua

April 2008

Fuel prices continue their upward trend in Nicaragua, reflecting the rising prices of petroleum in international markets.

On Sunday the price of a liter of diesel fuel increased from 21.95 córdobas (1.15 dollars) to 22.65 córdobas (1.19 dollars), rising for the second consecutive week.

New fuel increase in Panama

April 2008

A new high for fuels has gone into effect in Panama, where the social pressure cooker will be making steam as a result of the high costs of necessities.

The Authority for the Protection of the Consumer and the Defense of Competition announced that 95 octane gasoline is going up by five American cents, to 3.90 dollars a gallon.

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