Central America: Fuel Prices up to November 19th

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.

Monday, November 19, 2018

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. The North American country, through the International Energy Agency (IEA), reported that in the last week it reached a maximum production of 11.6 million barrels a day (100 thousand barrels more than two weeks ago) due to unconventional production (shale). While the Arab country, the largest producer of the Organization of the Petroleum Exporting Countries (OPEC), reported an increase of approximately 127 thousand barrels more to 10.8 million barrels per day, which has led to an excess in supply over current demand for fuels.

A further determining factor emerges after the U.S. administration eased its position regarding the sanctions imposed on Iran from November 4th and granted exonerations to Iran to eight countries, among Asians and Europeans, import oil and derivatives from the Iranian country, this temporary concession of 6 months allows for more supply in the world market. Due to these productive and geopolitical events, El Salvador will experience significant declines in all liquid fuel prices for the current fortnight. Compared to the reference prices of the previous period, the following variations in derivative products are observed: 6.11% in special gasoline, -6.23% in regular gasoline, -3.24% in diesel and -3.23% in low-sulfur diesel.

Prices in dollars
Regular
Special
Diesel
Guatemala
3.17
3.32
3.04
El Salvador
3.16
3.38
3.30
Nicaragua
3.83
3.97
3.69
Honduras
3.66
4.01
3.60
Costa Rica
4.11
4.23
3.65
Panamá*
2.98
3.09
3.02
*Prices from Acodeco.gob.pa

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More on this topic

Central America: Fuel Prices up to January 28

January 2020

Price per gallon of regular gasoline: Costa Rica $4.07, Nicaragua $3.52, Honduras $3.45, El Salvador $3.04, Guatemala $3.02 and Panama, $2.83

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

The current reference prices for gasoline and diesel, show low prices at national level, due to the outcome of the conflict between the United States and Iran, where the Arab country attacked two military bases located in Iraqi territory. After that, the probability of a war between both nations was dissipated before the response of the North American country, which decided to implement economic sanctions to the oil, steel production, iron and copper of the Iranian country.

Central America: Fuel Prices up to July 30

July 2018

Price of a gallon of regular gasoline: Costa Rica $4.33, Nicaragua $3.96, Honduras $3.76, El Salvador $3.53, Guatemala $3.44 and Panama $3.22.

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

For the second consecutive week there are mixed trends in the reference prices of liquid fuels in El Salvador, due to the international behavior of prices of oil and its derivatives, which according to the latest report from the Energy Information Administration Agency (EIA), show that the United States has seen a reduction in weekly gasoline reserves of 2.3 million barrels, since the North American country is in the summer period and it is the travel season when the highest amount of fuel consumption occurs; However, production (refining) has remained stable, since it has only decreased by 37,000 barrels of an estimated production of 1.5 million barrels per day, which has helped stabilize market prices.

Central America: Fuel Prices up to July 2

July 2018

Price of a gallon of regular gasoline: Costa Rica $4.33, Nicaragua $3.98, Honduras $3.76, El Salvador $3.49, Guatemala $3.40 and Panama $3.28.

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

The latest reports provided by the International Energy Agency (IEA) reflect a clear increase in the refining of petroleum derivatives, including gasoline, heating distillates and diesel, for gasoline there was an increase in reserves of an approximate 6.76 million barrels, while in distillates and diesel there was an increase of approximately 2.81 million barrels, according to weekly data provided by the agency. In addition, an increase in refining operations was reported from 95.7% to 97.5% of capacity by North American companies at the end of June.

Central America: Fuel Prices up to May 21

May 2018

Price of a gallon of regular gasoline: Costa Rica $4.22, Nicaragua $3.99, Honduras $3.78, El Salvador $3.58, Guatemala $3.54 and Panama $3.24.

From a statement issued by the Ministry of Economy of El Salvador:

The latest report provided by the IEA states that inventories of oil and its derivatives from the United States fell by 1.4 million barrels, which has affected prices in the global market; likewise, gasoline inventories dropped by 3.8 million barrels, while distillate and diesel reserves decreased by 100,000 barrels; It should be noted that during the last two weeks these inventories have decreased a total of 7.7 million barrels, these figures impact the prices of domestic liquid fuels, due to the fact that El Salvador is a net importer of petroleum products.

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