Central America: Fuel Prices up to October 21

Price per gallon of regular gasoline: Costa Rica $3.88, Nicaragua $3.53, Honduras $3.44, El Salvador $3.08, Guatemala $3.04 and Panama $2.83.

Monday, October 21, 2019

From the Ministry of Economy of El Salvador statement:

The current reference prices present combined variation for gasoline and downward variations for diesel; this trend responds to a first partial agreement between the largest producer (United States) and the largest consumer (China) of oil and oil products worldwide. Last October 11, the tariff increase was suppressed that was maintained for a value of US$250,000 million and were scheduled to rise from 25% to 30% to several Chinese products, which generated an expectation of increased demand among investors and producers in the hydrocarbon market.

Also, the IEA reported in its weekly report that gasoline reserves have decreased by 1.21 million barrels, while distillates by 3.04 million barrels, in addition, crude oil stocks rose by 9.28 million barrels. The above causes stability in the prices of oil derivatives, since it generates security of raw material in the future to produce gasoline and diesel, among others.

Finally, the decrease in demand for the last months of 2019 is estimated to be 50% lower than what had been calculated at the beginning of the year, given a supply that has remained abundant by the growing production of the United States, which has placed it as the largest producer worldwide.

Prices in USD
Regular
Special
Diesel
Guatemala
3,04
3,18
2,73
El Salvador
3,08
3,37
3,01
Nicaragua
3,53
3,77
3,34
Honduras
3,44
3,84
3,28
Costa Rica
3,88
4,01
3,46
Panama*
2,83
3,04
2,72
*Prices taken from Acodeco.gob.pa

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More on this topic

Central America: Fuel Prices up to October 4

November 2019

Price per gallon of regular gasoline: Costa Rica $3.86, Nicaragua $3.53, Honduras $3.41, El Salvador $3.06, Guatemala $3.05 and Panama $2.83.

From the Ministry of Economy of El Salvador:

The current reference prices are low for gasoline and diesel nationally, this responds to the latest weekly report of oil reserves provided by the IEA, which reported a 5.07-million-barrel increase, well above the forecast of experts who predicted a superficial growth of just 500 thousand barrels per week. This generates continuity of raw material for petroleum products, even though gasoline reserves decreased 3.04 million barrels and diesel 1.03 million barrels per week.

Central America: Fuel Prices up to September 9

September 2019

Price per gallon of regular gasoline: Costa Rica $3.98, Nicaragua $3.62, Honduras $3.39, El Salvador $3.06, Guatemala $3.04 and Panama $2.88.

From the Ministry of Economy of El Salvador:

The current reference prices present their third consecutive decline in gasoline prices and without any variation for low-sulfur diesel, this is because of the trade conflict between the United States and China, the largest consumers of oil and derivatives worldwide. On September 1, both nations-imposed tariffs on different products, the U.S. country for a value of US$300 billion, while China imposed tariffs of US$75 billion on different products, which highlights the 5% tax on oil and its derivatives. Because of these measures, international prices tended to fall, for fear of a fall in world demand.

Central America: Fuel Prices up to October 9th

October 2018

Regular gasoline gallon price: Costa Rica $4.28, Nicaragua $3.99, Honduras $3.83, El Salvador $3.57, Guatemala $3.38, and Panama $3.21.

From the Ministry of Economy of El Salvador report:

As a result of the last meeting held by the Organization of Petroleum Exporting Countries (OPEC) in Algeria last September 23rd together with countries not belonging to the organization led by Russia, it was agreed not to increase the production of crude oil despite the deficit generated by the third largest producer of the organization (Iran), due to the financial sanctions imposed by the United States; This has directly impacted the international prices in a notorious tendency to increase in the last weeks, since there will be less product (crude oil and all its products) to offer before a growing demand, and that the United States by itself cannot cover, unless OPEC increases its production, a subject that will be taken up until the meeting on  December 3rd in Vienna, Austria.

Central America: Fuel Prices up to March 12

March 2018

Price of gallon of regular gasoline: Costa Rica $4.02, Nicaragua $3.71, Honduras $3.63, Guatemala $3.22, El Salvador $3.20 and Panama $2.95.

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

The current reference prices are experiencing their second reduction at the national level due to the tension generated by North American and geopolitical productive factors created by uncertainty in world tariff matters[GRAFICA caption = "Click to interact with graph"]

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