According to statistics from the Ministry of Energy and Mining (MEM), the average price of a gallon of super gasoline is $4.8 (Q35.57), a reduction of only $0.11 (Q0.82) per gallon, compared to $4.91 (Q36.39) in July, when the price of oil hit record highs.
Price of gallon of regular gasoline: Panama $2.55, Guatemala $2.73, El Salvador $2.70, Honduras $3.23, Nicaragua $3.29, and Costa Rica, $3.67.
From a statement issued by the Ministry of Economy of El Salvador:
The current reference prices of liquid fuels in El Salvador have reached new lows that will benefit the pockets of Salvadorans, coming after two consecutive increases, these price changes are directly due to the instability and volatility (ups and downs) in the international prices of petroleum products which are affected by global and geopolitical events; currently the countries of OPEC and Russia are scheduled to meet informally on Wednesday in Algeria, with the goal of fighting the over-supply of crude oil and its derivatives.Also,Libyan production has increased by about 390,000 barrels per day after the cessation of fighting between armed groups, just as Russia is flooding the market because of its near record highs in production, stated specialists, these facts are leading to an overabundance in supply in the global market for refined oil, thus destabilizing international prices.
Price of a gallon of regular gasoline: Panama $2.57, El Salvador $2.80, Guatemala $2.90, Nicaragua $3.39, Honduras $3.55 and Costa Rica $4.55.
From a statement issued by the Ministry of Economy of El Salvador (MINEC):
During the month of December, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $57.31 per barrel, a decrease of -30.84% compared to the previous month. In recent weeks international prices of petroleum products, recorded the following changes: -11.46% in the price of a gallon of premium gas, -9.09% in the price of regular gasoline and -7 35% in the price of diesel.
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