Central America: Fuel Prices up to October 9th

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.

Tuesday, October 9, 2018

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.

Furthermore, the latest report of gasoline and distillate reserves provided by the International Energy Agency (IEA), says that gasoline reported a decrease in their weekly inventories of approximately half a million barrels, despite expectations from the market of an increase of 1.5 million barrels, while distillates such as diesel decreased by 1.7 million barrels per week, slightly more than expected by investors who predicted a fall of 1.3 million barrels; together the productive and geopolitical factors worldwide directly impacts the reference prices for the present fortnight, as well as these events allow instability in hydrocarbon international prices.

Price in US$RegularSpecialDiesel
El Salvador3,573,793,39
Guatemala3,383,533,01
Honduras3,834,163,58
Nicaragua3,994,123,68
Costa Rica4,284,393,78
Panamá3,213,343,02
*Price taken from Acodeco.gob.pa

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More on this topic

Central America: Fuel Prices up to January 15th

January 2019

Price per gallon of regular gasoline: Costa Rica $3.59, Nicaragua $3.21, Honduras $3.20, El Salvador $2.74, Guatemala $2.66 and Panama $2.64.

From the Ministry of Economy of El Salvador report:

The downward trend of the reference prices for the present fortnight is mainly due to the increase of the gasoline reserves and the oil distillates of the United States of America (USA); according to the last report by the IEA, the gasoline reserves increased by 8.1 million barrels per week, the greatest increase in the last 6 weeks; likewise, the reserves of distilled fuels, such as diesel also increased by 10.6 million barrels per week, being the greatest increase in the last 3 weeks.

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 16

July 2018

Price of a gallon of regular gasoline: Costa Rica $4.33, Nicaragua $3.97, Honduras $3.74, El Salvador $3.51, Guatemala $3.46 and Panama $3.22.

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

Despite a drop in inventories of crude oil in the United States, of approximately 12 million barrels, reported in the last week by the International Energy Agency (IEA), inventories of oil derivatives such as gasoline and diesel have seen slight fluctuations, ranging between weeks of increase and reduction in reserves; Gasoline stocks were reduced by approximately 2,199 million barrels in the last two weeks, despite the fact that the trend after that date showed an increase of 1,156 million barrels, similarly heating and diesel distillates increased their reserves in the last week by 4,125 million barrels, after two weeks of no change in their reserves, all according to reports by the IEA.

Central America: Fuel Prices up to April 24

April 2018

Price of the gallon of regular gasoline: Costa Rica $4.10, Nicaragua $3.86, Honduras $3.66, El Guatemala $3.43, Salvador $3.42 and Panama $3.05.

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

The current geopolitical events in the Middle East, in particular an attack on Syria led by the coalition of the United States, France and the United Kingdom, has caused great uncertainty among investors and prices in the Hydrocarbons market, due to the fact that this could lead to a substantial decrease in production, in addition to the one that the Organization of Petroleum Exporting Countries (OPEC) has had in place since the end of 2016, affecting world supply and causing prices to maintain their upward trend.[GRAFICA caption = "Click to interact with graph"]

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