El Salvador: Fuels That Cost Less

The pattern of import price parity, free competition and technical cost cause El Salvador to have the lowest prices in Central America.

Tuesday, March 17, 2009

Francisco Peña, Salvadoran Minister of the Economy, said that "the elimination of other entities with business interests at stake” is also a contributing factor because "they can no longer continue to issue opinions on the subject of prices,” thus influencing the market.

The article by Daniel Choto in Elsalvador.com showed that "the reason why fuel is more expensive in other countries on the isthmus is that most do not have transparent pricing mechanisms so that the distribution chain maintains the cost of the fuel and the price can be set by the domestic market according to local supply and demand."

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Structure of Fuel Prices

May 2012

The Ministry of Economy in El Salvador will submit for review the formula for establishing the reference prices of petrol and diesel.

This second revision aims to make the formula more clear for businesses and the public. Similarly, a propane gas subsidy will also be subjected to further analysis.

Funes Rules Out Freeze on Fuel Prices

March 2011

The Salvadoran President ruled out the possibility of freezing fuel prices which have reached $ 5 a gallon.

When asked about the additional increase announced by the Ministry of Economy, Funes said: "We will not issue a decree to freeze prices. We do not want to intervene abusively in the market (...) the Economic team is working on a solution to the situation."

Fuel prices stable in El Salvador

January 2009

The stability in prices will be maintained through January, despite the changes reported in the international market, the Ministry of Economy reported.

According to elsalvador.com, "Francisco Peña, director of Petroleum and Mining at the Minec, said that the country has managed to keep prices low, while they have started to rise in markets in Nicaragua and Honduras."

Regional fuel prices above $4.40 per gallon

August 2008

The Salvadoran Petroleum Industry Association and the Ministry of the Economy published a comparative analysis of the region on August 15.

For unregulated markets, the price per gallon on that date was: El Salvador, $4.44 for regular gasoline; Nicaragua, $4.72; and Guatemala, $4.71.

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