Arguing that there is a risk that energy transactions in the region will become more expensive, Guatemalan businessmen are asking the outgoing government to refrain from approving or signing reforms to the Central American Electricity Market Framework Treaty.
Because on January 10 the discussion is programmed within the Director Council of the Regional Electric Market of Central America (CDMER), the subscription of the Third Protocol, which would reform the Framework Treaty of the Electric Market, the private sector of Guatemala has issued an alarm before any change in the regulations, since it could cause increases in the prices of energy transactions or generate negative effects in the Guatemalan market and its interconnection with Mexico.
Price per gallon of regular gasoline: Costa Rica $4.11, Nicaragua $3.57, Honduras $3.46, Guatemala $3.09, El Salvador $3.07 and Panama, $2.85
From the Ministry of Economy of El Salvador's statement:
The current reference prices show increases in all their presentations, because of the announcement given by the United States and China, about the signing of phase 1 of the economic conflict in January 2020.
Price of a gallon of regular gasoline: Costa Rica $ 4.07, Nicaragua $ 3.52, Honduras $ 3.45, El Salvador $ 3.04, Guatemala $ 3.02 and Panama, $ 2.83.
From the Ministry of Economy of El Salvador:
The current reference prices present their second combined variation for gasoline and diesel; this trend is the result of the increase in gasoline and distillate reserves.
Price per gallon of regular gasoline: Costa Rica $4.12, Nicaragua $3.52, Honduras $3.45, El Salvador $3.07, Guatemala $3.05 and Panama $2.86.
From the Ministry of Economy of El Salvador statement:
The current reference prices present combined variation for gasoline and diesel; this trend responds to the economic conflict between the largest producer of oil and derivatives (United States) and the largest consumer of the same (China) that has extended for 16 months. The United States has scheduled for next December 15, a 15% increase in tariffs on Chinese products for a value of US$160 billion dollars, generating uncertainty in the international hydrocarbons market. Therefore, if such an increase is imposed, the demand for oil derivatives could decrease, generating an oversupply.
Price per gallon of regular gasoline: Costa Rica $4, Nicaragua $3.56, Honduras $3.44, El Salvador $3.06, Guatemala $3.06 and Panama $2.86.
From the Ministry of Economy of El Salvador statement:
The current reference prices show their second consecutive decline in gasoline and diesel for the current fortnight, these decreases are the result of the increase in U.S.
From November 20 to 22, the second edition of the Gas and Energy Summit of the Americas will be held in Panama City, where topics related to the financing of energy projects will be discussed.
The second edition of the Gas and Energy Summit of the Americas will combine conferences on strategic topics with high-level government presentations, thematic debates on innovative content, as well as discussion panels for the collective construction of solutions, led by prominent figures from the regional and global energy sector, informed the Ministry of Commerce and Industries (MICI).
Price per gallon of regular gasoline: Costa Rica $3.86, Nicaragua $3.53, Honduras $3.41, El Salvador $3.06, Guatemala $3.05 and Panama $2.83.
From the Ministry of Economy of El Salvador:
The current reference prices are low for gasoline and diesel nationally, this responds to the latest weekly report of oil reserves provided by the IEA, which reported a 5.07-million-barrel increase, well above the forecast of experts who predicted a superficial growth of just 500 thousand barrels per week. This generates continuity of raw material for petroleum products, even though gasoline reserves decreased 3.04 million barrels and diesel 1.03 million barrels per week.
Price per gallon of regular gasoline: Costa Rica $3.88, Nicaragua $3.53, Honduras $3.44, El Salvador $3.08, Guatemala $3.04 and Panama $2.83.
From the Ministry of Economy of El Salvador statement:
The current reference prices present combined variation for gasoline and downward variations for diesel; this trend responds to a first partial agreement between the largest producer (United States) and the largest consumer (China) of oil and oil products worldwide. Last October 11, the tariff increase was suppressed that was maintained for a value of US$250,000 million and were scheduled to rise from 25% to 30% to several Chinese products, which generated an expectation of increased demand among investors and producers in the hydrocarbon market.
The company AES Panama launched its liquefied natural gas storage system in the province of Colon, from where it plans to supply the entire Central American region.
This liquefied natural gas (LNG) distribution system will supply the 381 MW thermal plant located on site, also owned by AES, which began operating in August 2018.
Price per gallon of regular gasoline: Costa Rica $3.86, Nicaragua $3.62, Honduras $3.45, El Salvador $3.11, Guatemala $3.14 and Panama $2.89.
From the Ministry of Economy of El Salvador statement:
The current reference prices present their second consecutive increase in the prices of gasoline and diesel. This rise is because of the caution that exists due to the resumption of negotiations between the United States and China, scheduled for October 11 and 12, which generates uncertainty between investors and producers, as it is an agreement between the largest producer and the largest consumer of oil and oil products worldwide.
From January to June 2019, 52 environmental impact studies were presented to carry out works on electricity networks and build power generation plants in different areas of Central American countries.
The interactive platform "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects for which environmental impact studies (EIA) were submitted to the respective institutions of each country.
Price per gallon of regular gasoline: Costa Rica $3.97, Nicaragua $3.55, Honduras $3.40, El Salvador $3.09, Guatemala $3.09 and Panama $2.83.
From the Ministry of Economy of El Salvador statement:
The current reference prices show increases in the prices of gasoline and diesel, this is because of the recent armed attack on the country of Saudi Arabia, which is the world's second largest producer of oil and derivatives.
About $200 million is estimated to be invested in improvements to the Central American network, both nationally and regionally, to avoid the recurrence of service interruptions that occurred days ago.
On September 16, a power failure in Honduras caused the interruption of the service of approximately 40% of the area that make up the Central American countries that are interconnected.
From 2020 onwards, the fuel used by ships worldwide should not exceed 0.5% sulphur concentration, forcing transporters to consume higher priced fuels, which could become even more expensive because of increased demand.
From January 1, 2020, the concentration of sulphur in the fuel consumed by maritime transport vessels must not exceed 0.5%, a limit that until now was at 3.5%.
Price per gallon of regular gasoline: Costa Rica $3.98, Nicaragua $3.62, Honduras $3.39, El Salvador $3.06, Guatemala $3.04 and Panama $2.88.
From the Ministry of Economy of El Salvador:
The current reference prices present their third consecutive decline in gasoline prices and without any variation for low-sulfur diesel, this is because of the trade conflict between the United States and China, the largest consumers of oil and derivatives worldwide. On September 1, both nations-imposed tariffs on different products, the U.S. country for a value of US$300 billion, while China imposed tariffs of US$75 billion on different products, which highlights the 5% tax on oil and its derivatives. Because of these measures, international prices tended to fall, for fear of a fall in world demand.