In the first days of March of this year, the highest prices were reported in the Dominican Republic, while the lowest were registered in the Panamanian capital.
The regional report on average prices to the final consumer of gasoline, diesel and Liquefied Petroleum Gas (LPG) in Central America, effective for the week of February 27 to March 7, 2021, was made based on official prices and monitoring or surveys carried out by the different General Directorates of Hydrocarbons or equivalent, in the capital of each Central American country.
Price per gallon of regular gasoline: Costa Rica $3.87, Nicaragua $3.28, Honduras $3.27, Guatemala $2.93, El Salvador $2.54 and Panama, $2.81
From the Ministry of Economy report of El Salvador:
The current reference prices present significant declines for gasoline and diesel, these declines respond directly to the events of the break of the pact between OPEC, led by Saudi Arabia, and the countries that had made an alliance with the organization, represented by Russia.
Price per gallon of regular gasoline: Costa Rica $3.82, Nicaragua $3.61, Honduras $3.39, Guatemala $2.99, El Salvador $2.98 and Panama $2.81.
From the Ministry of Economy of El Salvador report:
The current reference prices for gasoline and diesel maintain a mixed trend (ups and downs), these variations are because of the continuous fall in the reserves of these products.
Price per gallon of regular gasoline: Costa Rica $4.08, Nicaragua $3.52, Honduras $3.51, El Salvador $2.96, Guatemala $2.96 and Panama $2.81.
From a statement by the Ministry of Economy of El Salvador:
The current reference prices for gasoline and diesel show a marked decline at the national level, which reflects the emergency experienced by China because of the coronavirus.
Price per 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's statement:
The current reference prices for gasoline and diesel present generalized increases, due to the recent geopolitical conflicts between the United States and Iran during the first weeks of January 2020, which is why the international prices of oil and derivatives increased by an average of 4%.
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 $4.44, Nicaragua $3.61, Honduras $3.44, El Salvador $3.12, Guatemala $3.09 and Panama $2.93.
From the Ministry of Economy of El Salvador statement:
The reference prices for gasoline and diesel add their second consecutive decline for the current fortnight, the reductions are because of increases in production and refining by U.S.
Price per gallon of regular gasoline: Costa Rica $4.38, Nicaragua $3.78, Honduras $3.53, El Salvador $3.21, Guatemala $3.24 and Panama $3.03.
From the Ministry of Economy of El Salvador statement:
The reference prices for gasoline and diesel present important declines for the current fortnight, although the United States for several weeks had reflected losses in its reserves, in the last weekly report provided by the IEA, it is reported that increased its oil products and derivatives. Oil increased by 2.4 million barrels after 7 weeks of losses. Likewise, gasoline increased 4.4 million barrels, after two weeks of losses, together with distillates, such as diesel, showed a 1.5-million-barrel increase. The changes in reserves allowed international prices of oil derivatives to show a downward trend.
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.
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.
Price per gallon of regular gasoline: Costa Rica $4.12, Nicaragua $3.82, Honduras $3.44, El Salvador $3.29, Guatemala $3.22 and Panama $3.04.
From the Ministry of Economy of El Salvador statement:
The reference prices for gasoline and diesel show increases in this fortnight, because of the shortage presented by the United States in oil reserves by 10.8 million barrels according to the weekly report of the IEA.
Price per gallon of regular gasoline: Costa Rica $4.12, Nicaragua $3.82, Honduras $3.44, El Salvador $3.29, Guatemala $3.22 and Panama $3.04.
From the Ministry of Economy of El Salvador:
The current increases in liquid fuels (gasoline and diesel) are influenced by the decrease in the extraction of oil and processing of derivatives. In the last two weeks the IEA reported a reduction in reserves of 10.58 million barrels of oil and a reduction of 3.03 million barrels of gasoline, generating uncertainty in the international market, reflected in rising prices.
Price per gallon of regular gasoline: Costa Rica $4.29, Nicaragua $3.62, Honduras $3.47, El Salvador $3.16, Guatemala $3.09 and Panama $2.90.
From the Ministry of Economy of El Salvador statement:
The reference prices for gasoline and diesel present lows for the present fortnight, this trend is because of the good time presented by the refineries for the first half of May, where there were significant increases in reserves of gasoline and diesel.
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.