Low Fuel Consumption

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.

Monday, August 12, 2019

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.

From January to May, diesel was the main fuel consumed in the country, representing 37% of the total. In the case of super gasoline the proportion reached 15.8% and the regular 7.9%.

You may be interested in "Petroleum Oils: Imports Up 21% in 2018

The economist, Luis Murillo, told Laprensa.com.ni "... that fuel consumption will continue to fall in the coming months...'I think you have to take into account two things, one that fuel consumption has decreased because many people lost their jobs and returned their vehicles or sold them, and two because of the constant increases in price, because in the end fuels rise more than they fall, this is because there is an oligopoly'."

César Arevalo, a specialist in hydrocarbon markets, explained that "... this year fuel consumption will fall by 5.5 percent. Remember that from May to October 2018 were the hardest months and fell more consumption, so for the rest of 2019 should be greater consumption versus 2018, however, I estimate a decline in 2019 compared to 2018 of 5.5 percent."

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Central America: Fuel Prices up to May 20

May 2019

Price per gallon of regular gasoline: Costa Rica $4.26, Nicaragua $3.89, Honduras $3.72, El Salvador $3.42, Guatemala $3.38 and Panama $3.29.

From the Ministry of Economy of El Salvador statement:

The current reference prices reflect a downward trend, because during the first weeks of May, reserves of gasoline and distillates show minimal reductions, this has allowed prices to be more stable compared to the previous month, since the first half of May gasoline reported a 790,000-barrel decrease, while in April for the first half reported a 10.6-million-barrel reduction. Regarding diesel distillates, during the first fortnight of May a 1.4-million-barrel decrease was reported, while for the first fortnight of April it was 2.5 million barrels, a less marked difference, which affects the price of low-sulfur diesel for the next fortnight.

Central America: Fuel Prices up to February 25

February 2019

Price per gallon of regular gasoline: Costa Rica $3.50, Nicaragua $3.36, Honduras $3.24, El Salvador $2.82, Guatemala $2.82 and Panama $2.63.

From the Ministry of Economy of El Salvador report:

The increase in fuel prices for this fortnight is because of production factors, according to the latest report provided by the IEA, gasoline reserves showed a weekly reduction of 1.5 million barrels, also distillates such as diesel decreased by 1.4 million barrels per week; these inventory reductions affect the tendency of prices to rise, because there are fewer gasoline and diesel reserves to supply the existing demand in the hydrocarbon market, which generates this effect in the international prices of oil derivatives.

Central America: Fuel Prices up to December 14th

December 2018

Price per gallon of regular gas: Costa Rica $3.94, Nicaragua $3.38, Honduras $3.36, El Salvador $2.86, Guatemala $2.82 and Panama $2.64.

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

The current reference prices keep a clear downward trend, because of the oversupply provided by the three largest producers of oil and its derivatives, which represent 40% of world production.

Oil Consumption in Costa Rica

January 2015

A report from the state run and monopolistic Costa Rican Petroleum Refinery indicates that during 2014 the country consumed 19 million barrels of oil.

From the report by the Costa Rican Petroleum Refinery (RECOPE):

According to the records from the Costa Rican Petroleum Refinery (RECOPE SA), sales for the period January to December 2014 increased by 2.12% compared to the same period in 2013, going from 3,023,400 m³ in that year to 3,087,620 m³ in the past year (equivalent to 19 million barrels).

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