In the Panamanian airport, 600 thousand gallons of jet fuel are consumed every day, and it is estimated that in the following months demand will increase by 50 thousand gallons.
The current capacity of the infrastructure only allows for storage of 1.4 million gallons of jet fuel, which is only enough to cover demand corresponding to two days of operations at the airport.
Price of gallon of regular gasoline: Costa Rica $3.94, Nicaragua $3.47, Honduras $3.43, Guatemala $2.89, El Salvador $2.86 y Panama $2.70.
From a statement issued by the Ministry of Economy of El Salvador:
The volatility of international prices of products (gasoline and diesel) in the oil market persists, being the main factor affecting reference prices for fuels.It is worth noting that as final consumers we should be aware that the instability of oil prices andtheir fluctuations are permanent factors, making assertions and predictions about future prices unpredictable, however in the current fortnight trends in international prices have been caused by the following events:
Price of gallon of regular gasoline: $2.51, Guatemala $2.79, El Salvador $2.74, Honduras $3.15, Nicaragua $3.32, and Costa Rica, $3.82.
From a statement issued by the Ministry of Economy of El Salvador:
The rise in prices of oil products has been affected by a weakening of the dollar as a currency, as well as fires in Canada, instability in the region producing oil and its derivatives in Nigeria; and a series of suspensions of operations at refineries over fears of a possible hurricane heading towards the Gulf of Mexico, and added to this are supply disruptions in different parts of the world which have elevated international prices causing instability, confirming the volatility in the oil market, leading to abrupt price changes which are becoming impossible to predict, directly hitting the reference prices of liquid fuels in El Salvador.
Price of a gallon of regular gasoline: Panama $2.34, El Salvador $2.48, Guatemala $2.44, Nicaragua and Honduras, $3.17 and Costa Rica, $3.77.
From a statement issued by the Ministry of Economy of El Salvador:
New variations with a downward trend which occurred in this week, are due to the significant drop in prices of derivatives and oil, which are caused by the results of the latest OPEC meeting, where member countries reached an agreement on a maximum ceiling for oil production and maintaining the overabundance of supply, coupled with the fact that Iran will join the market next year, once the West has removed the sanctions that it imposed sanctions over its nuclear program. These factors lead to oversupply causing a decline in reference prices.
The State fuel distributor wants to include the cost of refining carried out in the country in fuel prices, even though it has not refined anything since 2011.
From a statement issued by the Chamber of Industries of Costa Rica:
• RECOPE wants to include the cost of refining carried out in the country in with fuel prices, even though it has not refined anything since 2011.
Price of a gallon of regular gasoline: $2.49 Panama, El Salvador $2.60, $2.62 Guatemala, Nicaragua $3.22 Honduras $3.26 , Costa Rica $3.78.
From a statement issued by the Ministry of Economy and Trade of El Salvador:
El Salvador is in first place with the lowest gasoline prices and in second place for lowest diesel prices in Central America.
The Ministry of Economy announced on October 26 that the reference prices for gasoline, effective from October 27 to November 9, 2015, will experience reductions of up to - $0.05, it is worth mentioning that this is the seventh consecutive reduction in prices of regular and special gasoline ; while diesel has once again registered a slight decrease.
An analysis states that bureaucratic obstacles may discourage the entry of new competitors in a market moderately concentrated.
From a statement issued by the Superintendency of Competition:
SC Updates Study on Liquid Fuel Sector
After completing in June 2015 the "Update of the sectoral study on competition in the market for liquid fuels" prepared by the Economic Administration of the Superintendency of Competition, the Board of Directors of the authority issued recommendations aimed at promoting economic efficiency and welfare of consumers in this market.
Price of a gallon of regular gasoline: Panama $3.30, El Salvador $3.39, Guatemala $3.55, Honduras $4.03 , Nicaragua $4.06, and Costa Rica $5.03.
From a statement issued by the Ministry of Economy in El Salvador:
During the month of November, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $75.07 per barrel, a decrease of -4.70% compared to the previous month.
Price of a gallon of regular gasoline: Panama $3.25, El Salvador $3.56, Guatemala $3.56, Nicaragua $4.06, Honduras $ 4.11, and Costa Rica $4.99.
Excerpted from a statement issued by the Ministry of Economy of El Salvador:
During the month of November, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $75.34 per barrel, a decrease of -4.40% compared to the previous month.
Gallon of regular gas: $3.43 Panama, Guatemala $3.70, $3.82 El Salvador, Nicaragua $4.07, Honduras $4.33 and Costa Rica $5.16.
Excerpted from a statement by the Ministry of Economy of El Salvador:
In October, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $79.39 per barrel, a decrease of -6.29% compared to the previous month.
Businessmen from the sector are complaining about continued delays in the discussion of legislation regulating the marketing and pricing in the fuel distribution business.
Lack of consensus last year among all companies in the sector for importing and distributing fuels regarding the opening of gas stations led to the draft law intended to regulate the sector not getting to Congress for discussion ..
Price of a gallon of regular gas: Panama $3.91, Costa Rica $5.43, Nicaragua $4.89, Honduras $4.61, Guatemala $4.04, El Salvador $4.06.
From a press release issued by the Ministry of Economy of El Salvador (Minec):
The Ministry of Finance announced on August 18, new variations in the reference prices for fuel, which will be in effect from 19 August until 1 September 2014.
Gallon of regular gas: Costa Rica $5.17, Nicaragua $4.86, Honduras $4.75, Guatemala $4.22, El Salvador $4.17.
From a statement issued by the Ministry of Economy in El Salvador:
The Ministry of Finance announced on June 23 new variations on the reference prices for fuel, which will be effective from 24 June to 7 July 2014.
During the month of June 2014, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $98.52 per barrel, showing an increase of +4.99% compared to the previous month. For its part, the international prices of petroleum products showed the following changes in the past few weeks: +2.04% in the price of premium gasoline, +2.0% in the price of regular gasoline and +0.33% in the price of diesel.