Central America: Fuel Prices up to January 28th

Price per gallon of regular gasoline: Costa Rica $3.64, Nicaragua $3.31, Honduras $3.17, El Salvador $2.78, Guatemala $2.73 and Panama $2.56.

Monday, January 28, 2019

From the Ministry of Economy of El Salvador report:

The upward trend of the reference prices for the present fortnight, follows the agreement to reduce production by 1.2 million barrels per day by the member countries and non-members of the Organization of Petroleum Exporting Countries (OPEC) that began on January 1, 2019, has reverted the downward behavior of the prices of all oil derivatives such as gasoline and diesel, a clear example of the firm compliance of such reduction is Saudi Arabia, the largest producer of the organization, which has assumed most of the reduction to 468,000 barrels per day, also at the end of December 2018 the organization had already reduced an approximate 750,000 barrels per day between crude oil and derivatives, which has impacted on international prices for 2019.

On the other hand, the oil platforms on the coasts of the United States have reported a reduction in production, since at the beginning of January, 873 platforms were active, but for the third week were reduced to 851, a difference of 22 platforms, which significantly affects the upward trends in prices, in addition to the strong speculations of a worldwide decrease in fuel demand for 2019.

Prices in dollar
Regular
Special
Diesel
Guatemala
2.73
2.89
2.62
El Salvador
2.78
3.00
2.84
Nicaragua
3.31
3.45
3.23
Honduras
3.17
3.50
3.09
Costa Rica
3.64
3.73
3.34
Panama
2.56
2.68
2.58
*Prices taken from Acodeco.gob.pa

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Price per gallon of regular gasoline: Costa Rica $4.12, Nicaragua $3.82, Honduras $3.44, El Salvador $3.29, Guatemala $3.22 and Panama $3.04.

From the Ministry of Economy of El Salvador:

The current increases in liquid fuels (gasoline and diesel) are influenced by the decrease in the extraction of oil and processing of derivatives.

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Price per gallon of regular gasoline: Costa Rica $3.50, Nicaragua $3.36, Honduras $3.24, El Salvador $2.82, Guatemala $2.82 and Panama $2.63.

From the Ministry of Economy of El Salvador report:

The increase in fuel prices for this fortnight is because of production factors, according to the latest report provided by the IEA, gasoline reserves showed a weekly reduction of 1.5 million barrels, also distillates such as diesel decreased by 1.4 million barrels per week; these inventory reductions affect the tendency of prices to rise, because there are fewer gasoline and diesel reserves to supply the existing demand in the hydrocarbon market, which generates this effect in the international prices of oil derivatives.

Central America: Fuel Prices up to February 11

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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 January 2nd

January 2019

Price per gallon of regular gasoline: Costa Rica $3.94, Nicaragua $3.35, Honduras $3.27, El Salvador $2.78, Guatemala $2.78 and Panama $2.64.

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

The latest report from 2018, provided by the International Energy Agency (AIE) reports that gasoline reserves experienced a significant increase of slightly more than 3.0 million barrels per week against expert forecasts that predicted a minimum increase of just 50,000 barrels per week. Also, distillates such as diesel, kept their production rate and was almost invariable its trend with respect to the previous week, as it only increased 2,000 barrels in the week, against an expectation of a 500 thousand barrels reduction, which despite the favorable environment for the reduction of such a derivative of oil along with heating, its stability allows prices to be downward, along with those of gasoline.