Funes Rules Out Freeze on Fuel Prices
The Salvadoran President ruled out the possibility of freezing fuel prices which have reached $ 5 a gallon.
Tuesday, March 15, 2011
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."
Average market prices up to and including April 22, 2009 for diesel and gasoline in the countries of the region, according to the Ministry of the Economy of El Salvador.
Price of gallon of regular gasoline: Panamá $2,63, Guatemala $2,71, El Salvador $2,81, Honduras $3,22, Nicaragua $3,46, y Costa Rica, $3,36.
Gallon of regular gasoline: Panamá $3,17, Guatemala $3,15, El Salvador $3,21, Honduras $3,83, Nicaragua $3,95 y Costa Rica $4,45.
The proposed new formula serving as reference for fuels could start in late January.
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