Oil prices head still higher

A barrel of Brent petroleum has passed the 146-dollar mark and could rise even higher if the European Central Bank raises interest rates.

Friday, July 4, 2008

The latest price increase followed an announcement by the United States government that its oil inventories have fallen more than expected.
World petroleum prices have doubled in the past year.
The combination of the weak dollar, high demand for crudd and fears over a possible interruption of supply in the Middle East and Africa are the reasons for this most recent round of price increases.

More on this topic

Fuels As a Fiscal Tool

February 2015

In Costa Rica the cost that petroleum and its derivatives represent for the productive activities is an example of the distortions caused by the State in the prices of a vital input for the economy.

From a statement issued by the Chamber of Industries of Costa Rica (ICRC):

Gas Prices in Central America

May 2014

Price of a gallon of regular gas : $4.75 Costa Rica , Nicaragua $5.09 , Honduras $4.71, Guatemala $4.13, and El Salvador $4.16

From information published by the Ministry of Economy of El Salvador:

The Ministry of Finance announced, on May 26 , new variations on the reference prices for fuel, which will be effective from 27 May to 9 June 2014.

Honduras: Petrocaribe is No Longer Cheap

February 2014

The rise in interest rates and lowering of the timeframes adopted by the government of Venezuela means that Honduras will have to seek other options for purchasing fuel.

According to Alden Rivera, Secretary of Economic Development, Petrocaribe fuel is no longer cheap and no longer attractive to Honduras. The increase in interest rates and reduction of timeframes is forcing the country to seek alternatives for buying fuel.

Fuel prices in Guatemala do not reflect the drop in the price of oil

August 2008

International prices for a barrel of crude oil have dropped $31 in the last 30 days, but local fuel prices are still high.

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.

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