Energy Fuel oil Fuel price fuel prices oil price gas oil prices petroleum derivates Fuel consumption import oil Dirección General de Hidrocarburos Transportation Asociación Guatemalteca de Expendedores de Gasolina Petrocaribe

Guatemala Spending 37% More on Oil

In the first half of the year, the oil bill reached $1,798 million, an increase of $490 million compared to the same period in 2010.

Friday, September 16, 2011

A rise in international oil prices coupled with an increase in gasoline consumption accounts for much of the country’s increased oil bill.

Gasoline consumption, particularly diesel, rose by 0.6% in the aforementioned period, while consumption of bunker fuel, used to supply ships, rose by 9%.

Internationally, crude oil production has been affected by conflict in the Middle East since, which since early this year has affected prices, making them volatile.

An article in Prensalibre.com states: "in relation to domestic demand for petroleum in the first seven months of the year, the country consumed 16.52 million barrels, which means a growth of 5.35% compared to the same period last year, when it amounted to 15.68 million barrels. "

Source: prensalibre.com