Oil Derivatives: Good Expectations for Business

Because of the fact that in the first six months of the year Guatemala's oil bill totaled $1,440 million, 6% more than what was reported in the same period in 2018, businessmen in the sector project a rise in sales at the end of 2019.

Monday, July 22, 2019

Figures from the General Directorate of Hydrocarbons (DGH) of the Ministry of Energy and Mines (MEM), specify that between the first half of 2018 and the same period of 2019, the amount of the oil bill, which includes the cost of importing oil derivatives such as gasoline, diesel, bunker, asphalt, kerosine, butane, gas, petcoke, among others, increased by $78 million, going from $1,362 million to $1,440 million.

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

Enrique Melendez, executive director of the Guatemalan Association of Gasoline Retailers (Ageg), explained to Prensalibre.com that "... the increase in the consumption of this product (gasoline), which could be associated with the sales volume factor and not price, is surprising. In general, it is projected that for this year consumption will grow in the range of 2 to 3%, very similar to the projection of economic growth."

Meléndez added that "... generally in the industry there is a slight increase in demand for this product."

From January to June of this year the main items of the oil bill were diesel (low sulfur) when purchases were reported for $554 million, followed by superior gasoline (95 octanes), with $277 million, regular (88 octanes) with $283 million and gas with $137 million.

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More on this topic

Oil bill: Slight Drop in Guatemala

February 2020

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.

Guatemala: Oil Bill Increases 22%

October 2018

Due to the upward cycle of the barrel international price, between January and August the country has bought $1.844 million in petroleum products, 22% more than in the same period of 2017.

Regarding this growth in the import amount, Enrique Melendez, executive director of the Guatemalan Association of Gasoline Dispensers, explained to Prensalibre.com that "...

Guatemala Spending 37% More on Oil

September 2011

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.

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

Oil Exports Up 33% in Guatemala

January 2011

Exports from January to October 2010 totaled $ 209.2 million up $ 51.4 million from the same period in 2009.

According to information from Banco de Guatemala (Banguat), until October 2010 the country had received $ 209.2 million, 33% higher than the $ 157.8 million over the same period in 2009.

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