Fuels: Consumption Increases in Honduras

Between January and September 2018 and the first nine months of this year, imports of petroleum products increased by 1.8 million barrels, from 14.3 million barrels to 16.1 million barrels.

Friday, November 29, 2019

Regarding the imported value, the Central Bank of Honduras reported that at the end of the third quarter of 2019, imports of fuels, lubricants and electric energy were registered for $1.230 million, reporting a $9.9 million decrease year on year, explained by the decrease of 11.5% in the international price, partially offset by the 12.5% increase in the imported volume.

The document adds that "... In the period analyzed, bunker imports totaled US$253.0 million, registering a US$65.6 million (35.0%) increase, linked to the greater generation of thermal electric energy, which uses this product as input, given the reduction in the production of electricity based on hydroelectric sources.

Purchases abroad of diesel registered a total of US$420.8 million, reducing US$15.3 million compared with the observed to September 2018; in the same manner the other fuels showed the same behavior: superior gasoline with US$30.5 million, regular gasoline US$1.7 million, LPG US$11.7 million and kerosene US$11.5 million, caused by the decrease in international prices.
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During 2019 the consumption of diesel, gasoline and gas, products with the highest participation in the oil bill, reached Ch$2,719 million, a 0.8% lower amount than that reported in 2018.

Figures from the General Direction of Hydrocarbons (DGH) detail that between 2018 and 2019 the Guatemalan oil bill was reduced by $21 million, from $2.719 million to $2.041 million.

Low Fuel Consumption

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Because of the political and economic crisis affecting the country, diesel consumption in Nicaragua is reported to have fallen 5.3% between January and May compared to the same period in 2018.

Statistics of hydrocarbon sales of the Ministry of Energy and Mines (MEM) during the first five months of 2019 the consumption of super gasoline reported a 2.5% decrease compared to the same period last year, and in the case of regular gasoline registered a slight increase of 0.3% for the periods concerned.

Costa Rica: Fuel Consumption Up 11%

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In the first half of 2016 fuel sales grew by 11% compared to the same period last year.

From a statement issued by Recope:

Total fuel consumption continues to grow, in the first half of 2016 alone, sales increased by 11% compared to demand in the same period last year, going from 1,511,140,000 liters to 1,677,206,000 liters, which is a difference of 166 million liters, equivalent to about one million barrels.

Nicaragua's Fuel Bill Increases 80.7%

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In the first two months of the year, imports totaled $197.1 million, 80.7% more than in the same period of 2010.

The increase in the price of fuel will affect companies' transport costs and these in turn will impact product prices in a kind of domino effect.

Crude oil imports rose 4% in volume terms but in economic terms this equates to $200 million, 80% more than the amount purchased in the same period last year, since the price of a barrel has gone up to $90, according to a report from the Nicaraguan central bank (BCN).

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