Central America: Fuel Prices up to December 14th

Price per gallon of regular gas: Costa Rica $3.94, Nicaragua $3.38, Honduras $3.36, El Salvador $2.86, Guatemala $2.82 and Panama $2.64.

Monday, December 17, 2018

From the report of the Ministry of Economy of El Salvador:

The current reference prices keep a clear downward trend, because of the oversupply provided by the three largest producers of oil and its derivatives, which represent 40% of world production. In October and November, Russia has produced 10.8 million barrels per day on average, Saudi Arabia 11.3 million barrels per day on average, while the United States had a record production of 11.75 million barrels per day on average, all which has generated that supply remains higher than current demand affecting lower prices in the world market for hydrocarbons.

Likewise, according to reports provided by the International Energy Agency (IEA), gasoline reserves increased by 3.05 million barrels, while distillates, such as diesel, increased by 5.00 million barrels, the result of the high refining rate that on average remains at 97%, the highest in 2018. Because of the above, El Salvador benefits from a fourth consecutive fall in fuel prices at the national level.

Prices in dollars
Regular
Special
Diesel
Guatemala
2.82
2.98
2.68
El Salvador
2.86
3.06
2.88
Nicaragua
3.38
3.53
3.28
Honduras
3.36
3.72
3.35
Costa Rica
3.94
4.01
3.69
Panama*
2.64
2.77
2.64
*Price taken from Acodeco.gob.pa

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More on this topic

Central America: Fuel Prices up to September 23

September 2019

Price per gallon of regular gasoline: Costa Rica $3.97, Nicaragua $3.55, Honduras $3.40, El Salvador $3.09, Guatemala $3.09 and Panama $2.83.

From the Ministry of Economy of El Salvador statement:

The current reference prices show increases in the prices of gasoline and diesel, this is because of the recent armed attack on the country of Saudi Arabia, which is the world's second largest producer of oil and derivatives.

Central America: Fuel Prices up to February 11

February 2019

Price per gallon of regular gasoline: Costa Rica $3.48, Nicaragua $3.28, Honduras $3.19, El Salvador $2.81, Guatemala $2.75 and Panama $2.56.

From the Ministry of Economy of El Salvador report:

The increase in the reference prices for the current fortnight, according to the last two reports provided by the IEA, is because the reserves of gasoline and diesel show decreases in the last two weeks.

Central America: Fuel Prices up to November 19th

November 2018

Price per gallon of regular gas: Costa Rica $4.11, Nicaragua $3.83, Honduras $3.66, Guatemala $3.17, El Salvador $3.16 and Panama $2.98.

From the report of the Ministry of Economy of El Salvador:

The latest production and export reports from the United States and Saudi Arabia have provided international price relief for oil and its products.

Central America: Fuel Prices up to November 5th

November 2018

Price per gallon of regular gas: Costa Rica $4.11, Honduras $3.84, Nicaragua $3.79, El Salvador $3.37, Panama $3.32 and Guatemala $3.29.

From the report of the Ministry of Economy of El Salvador:

The production increase of the three major exporters of petroleum and its products at the end of October 2018 has contributed to the fall in international prices; the United States have produced approximately 11.5 million barrels per day, 500 thousand barrels more than its average production; Russia 11.3 million barrels per day, expecting to reach 11.4 million barrels per day in the next weeks; while Saudi Arabia produces an average of 10.7 million barrels per day, with expectations of increasing to 11 million barrels per day. With this increase in production, the International Energy Agency (IEA) has expressed that the oil markets seem " suitably supplied for now," and with a lower expectation in the demand for petroleum and products for 2019.

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