In the Panamanian airport, 600 thousand gallons of jet fuel are consumed every day, and it is estimated that in the following months demand will increase by 50 thousand gallons.
The current capacity of the infrastructure only allows for storage of 1.4 million gallons of jet fuel, which is only enough to cover demand corresponding to two days of operations at the airport.
Price of gallon of regular gasoline: Costa Rica $3.93, Nicaragua $3.74, Honduras $3.63, Guatemala $3.31, El Salvador $3.29 and Panama $2.99.
From a report by the Ministry of Economy of El Salvador:
The harsh winter that has hit the United States has caused an increase in the production of energy generated frompetroleumderivatives, which is used for heating, as well as the general consumption of derivatives in the North American country, which has contributed to a decrease in reserves in the United States.[GRAFICA caption = "Click to interact with graph"]
Price of a gallon of regular gasoline: Costa Rica $3.92, Nicaragua $3.65, Honduras $3.52, El Salvador $3.20, Guatemala $3.18 and Panama $2.83.
From a report by the Ministry of Economy of El Salvador:
The cold front that hit the east coast and the northern region of the United States, caused an increase in demand for fuel for heating.[GRAFICA caption = "Click to interact with graph"]
Price of gallon of regular gasoline: Costa Rica $4.03, Nicaragua $3.59, Honduras $3.45, Guatemala $3.14, El Salvador $3.11 and Panama $2.91.
From a report by the Ministry of Economy of El Salvador: [GRAFICA caption = "Click to interact with graphics"] The mixed trend in the United States strategic reserves of crude oil and liquid fuels (diesel and gasoline) influenced the new reference prices for the last fortnight of 2017 following the last inventory report by the United States, the Organization of the Exporting Countries of Petroleum (OPEC) is holding firm to its pact to cut production of its member countries along with Russia.
Industrialists in Costa Rica are opposed to the appeal lodged by deputies against the presidential decree that prevented the rise of 72% in the price of LP gas and 35% in bunker fuel.
From a statement issued by the Chamber of Industries of Costa Rica:
The Chamber of Industries of Costa Rica said that nullifying the presidential decree on Sector Policy, as several Deputies want to do, will affect employment.Last week, deputy Luis Alberto Vasquez Castro and other lawmakers presented an appeal to the Constitutional Court against the decree by President Luis Guillermo Solis of January, a decree that prevented the ARESEP from changing the methodology of fuel prices.This presidential decree, put an end to the disproportionate increase in the price of Liquefied Petroleum Gas (LPG), 72%, and bunker fuel, 35%, which are key materials for the industrial sector.
Businessmen from the sector are complaining about continued delays in the discussion of legislation regulating the marketing and pricing in the fuel distribution business.
Lack of consensus last year among all companies in the sector for importing and distributing fuels regarding the opening of gas stations led to the draft law intended to regulate the sector not getting to Congress for discussion ..
Prices of a gallon of regular gas: Panama $3.90, Elsalvador $4.00, Guatemala $4.06, Honduras $4.57, Nicaragua $4.68, Costa Rica $5.22.
From a press release issued by the Ministry of Economy of El Salvador (Minec):
The Ministry of Finance announced on September 1, new variations in the reference prices for fuel, which will be in effect from 2 to 15 of September 2014.
They are demanding from the government more transparency in the management of fuel purchases and more information on how the market will be organized with the participation of the Venezuelan entity.
The Chamber of Commerce and Industry of El Salvador has expressed concern about the interference that Petrocaribe and the Venezuelan government could have on El Salvador and has asked the government for greater transparency about how fuel imports will be handled once the agreement enters into force.
Gallon of regular gas: Costa Rica $5.17, Nicaragua $4.86, Honduras $4.75, Guatemala $4.22, El Salvador $4.17.
From a statement issued by the Ministry of Economy in El Salvador:
The Ministry of Finance announced on June 23 new variations on the reference prices for fuel, which will be effective from 24 June to 7 July 2014.
During the month of June 2014, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $98.52 per barrel, showing an increase of +4.99% compared to the previous month. For its part, the international prices of petroleum products showed the following changes in the past few weeks: +2.04% in the price of premium gasoline, +2.0% in the price of regular gasoline and +0.33% in the price of diesel.
Gasoline distributors are concerned about Petrocaribe's recommendation that the Salvadoran government be the sole manager of oil imports.
An urgent appeal to the Government for it to call together companies from the sector and clarify the implications of El Salvador's entry into Petrocaribe, has been the reaction of the distributors of domestic fuels, in light of statements by representatives of Alba Petróleos suggesting that the government should establish an entity to manage the purchase and import of hydrocarbon derivatives purchases.
There is still no official information about whether brand name distributors will be able to keep importing fuel from their source of choice.
The request for entry into the oil agreement with Venezuela marks the economic and political differences between the outgoing government of Mauricio Funes and that of the new President Sanchez Ceren, indicating a higher affinity for the conglomerate led by Venezuela.
The rise in interest rates and lowering of the timeframes adopted by the government of Venezuela means that Honduras will have to seek other options for purchasing fuel.
According to Alden Rivera, Secretary of Economic Development, Petrocaribe fuel is no longer cheap and no longer attractive to Honduras. The increase in interest rates and reduction of timeframes is forcing the country to seek alternatives for buying fuel.
Since its return to Petrocaribe in May this year Honduras has not received a single shipment of oil from the South American country.
The President-elect Juan Orlando Hernandez will have the task of defining whether the country remains within Petrocaribe or looks for alternatives to imported hydrocarbons.
An article in Laprensa.hn reports: "For the third time there has been a failure in the arrival of the first shipment of fuel from Petrocaribe which was expected this December and therefore the new government will pursue negotiations with Venezuela and decide whether or not to continue this initiative, government sources confirmed yesterday.