Central America: Fuel Prices up to December 3rd

Price per gallon of regular gasoline: Costa Rica $3.93, Nicaragua $3.55, Honduras $3.48, El Salvador $2.97, Guatemala $2.92 and Panama $2.77.

Monday, December 3, 2018

From the Ministry of Economy of El Salvador report:

During the last two months, the oil and its derivatives production has reached higher figures than expected, this is because the two largest producers, the United States and Saudi Arabia, have recorded figures never seen before. The North American country has produced 11.7 million barrels a day, 100 thousand barrels more than 15 days ago, while its Middle Eastern counterpart and largest producer of the Organization of Petroleum Exporting Countries (OPEC) Saudi Arabia, has raised its production to 11.2 million barrels a day, 400 thousand barrels more than two weeks ago, thus generating an excess of fuel on the international market in relation to current demand.

Another important factor is the high rate of refining by U.S. fuel companies, which during the last week of November have maintained a 96% productivity compared to two weeks ago, which was 92%. With this increase there is an overproduction that affects the price reduction of liquid fuels, so that El Salvador benefits from a third decrease of fuel nationally an extra fortnight.

Prices in dollars
Regular
Special
Diesel
Guatemala
2.92
3.07
2.84
El Salvador
2.97
3.20
3.09
Nicaragua
3.55
3.72
3.51
Honduras
3.48
3.84
3.48
Costa Rica
3.93
4.00
3.68
Panama
2.77
2.94
2.86
*Price from Acodeco.gob.pa

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More on this topic

Central America: Fuel Prices up to December 14th

December 2018

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.

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.

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.

Central America: Fuel Prices up to November 20

November 2017

Price of gallon of regular gasoline: Costa Rica $3.85, Nicaragua $3.70, Honduras $3.45, Guatemala $3.14, El Salvador $3.07 and Panama $2.92.

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

According to experts "The oil market tends to react with nervousness and upward pressure on prices in the face of episodes of political instability in the Middle Eastern producing regions", in Saudi Arabia [concerns] grew during the week when the highest authorities accused Iran, also a member of the Organization, of being behind a missile shot over the airport of the Saudi capital that was eventually intercepted. [GRAFICA caption="Click to interact with graphics"] 

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