Oil Expenditure Increases 49% in El Salvador

In the first eight months of the year oil imports rose to $ 987.8 million, 49.4% higher than the $ 661 million from the same period in 2009.

Tuesday, September 28, 2010

Traders and analysts attributed the increase to basically two factors, a higher price and an increase in domestic demand.

Daniel Choto of Elsalvador.com writes, "The greatest concern is that international crude price remained at around $ 75 during the period, well above-average closing price of late 2009, in which it went down substantially from the highs reached on July 11, 2008, when it reached $147 a barrel.”

According to El Salvador´s Central Reserve Bank, consumption has increased by 13.9% due to higher demand from manufacturing and transportation.

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Fuel Sales Grow by 51% in Panama

May 2012

Service stations sold motorists 388 million gallons of fuel in 2011, whereas sales in 2005 were 256 million.

In Panama, the sale of fuel and lubricants has grown by 51.49% in the last 7 years. In 2005 it was 256.21 million gallons and in 2011 it reached 388.15 million, according to the National Hydrocarbons Secretariat.

Nicaragua's Fuel Bill Increases 80.7%

April 2011

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).

Oil Purchase Up 29% in Honduras

March 2011

2010 imports totaled $ 1.486.8 million, $ 335 million more than 2009.

By type of fuel, diesel leads with 33.8%, followed by bunker with 31% and gasoline with 26.7%.

Government projections for 2011 expect a 30% increase, reaching $ 2.000 million.

"In the opinion of the president of the Central Bank of Honduras (BCH), María Elena Mondragón, the population is now forced to carry out cost-saving measures, as well as the state and government", reported Latribuna.hn.

Guatemala Oil Imports Up 53.9%

June 2010

The country spent $968 million in oil between January and May 2010, 54% more than in the same period of 2009.

According to Central Bank data, the figure was not as bad as in 2008, when Guatemala spent $1.1 billion in the same five months.

Luis Ayala, Hydrocarbon sub director at the Ministry of Energy and Mines, explained that bunker fuel increased the most (110%).

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