Fuel prices in Guatemala do not reflect the drop in the price of oil

International prices for a barrel of crude oil have dropped $31 in the last 30 days, but local fuel prices are still high.

Wednesday, May 14, 2008

According to statistics from the Ministry of Energy and Mining (MEM), the average price of a gallon of super gasoline is $4.8 (Q35.57), a reduction of only $0.11 (Q0.82) per gallon, compared to $4.91 (Q36.39) in July, when the price of oil hit record highs.

More on this topic

Central America: Fuel Prices as of July 3

July 2017

Price of a gallon of regular gasoline: $3.83, Honduras $3.64, Nicaragua $3.44, Guatemala $2.98, El Salvador $2.93, and Panama $2.60.

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

This is the second consecutive drop in the reference prices for gasoline and diesel, which is due to the trend of a global supply surplus, despite the fact that the United States has reduced its production in recent weeks, its reserves of crude oil and oil products remaining above their historical levels to date; In addition OPEC member Libya did not subscribe to the continuation of the pact for the reduction on the part of countries belonging to the organization, made last month in Vienna.[GRAFICA caption = "Click to interact with graphics"]

Costa Rica: Highest fuel prices in the region

September 2008

Costa Rica has the highest fuel prices in Central America and Honduras has the lowest.

According to a report presented last week by the Guatemalan Ministry of Energy and Mining and which periodically measures the public price of the main fuels, points out that in Costa Rica the price of a gallon of super gasoline is higher than $5.29; regular gasoline is $5.21; and diesel is $5.25.

Costa Rica declares an emergency due to high oil prices

June 2008

The Costa Rican government has declared an emergency and will study a package of measures to avoid a financial debacle as a result of the high international price of petroleum.

The measures could include prohibiting the entrance of cars to the capital and other cities, says the minister to the presidency, Rodrigo Arias.

Surge in diesel prices puts pressure on Guatemalan bus fares

May 2008

Diesel prices have surged to as much as US$5 a gallon at the pump in Guatemala.

In line with international trends, diesel now costs more than gasoline in Guatemala, despite a lower sales tax. President Álvaro Colom is reported to be reviewing possible subsidies for public transport.

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