Chevron's $7 million investment in the Acajutla terminal in El Salvador increased its fuel storage capacity from 300,000 to 450,000 barrels.
As announced in 2016, the investment in the plant expansion consisted of the construction of two tanks, each with a storage capacity of 75,000 barrels.
Driven by the demand for LP gas, super gasoline and diesel, fuel consumption in 2018 reached 3.386 million liters, 2% more than that recorded in 2017.
Data from the Costa Rican Petroleum Refinery (Recope) detail that between 2017 and 2018 total fuel consumption in the Costa Rican market increased by 68 million liters, going from 3,318 million to 3,386 million liters.
This week the company CLH Aviación started providing fuel supply services at Tocumen air terminal in Panama.
After having won the tender to supplyfuel and lubricants at Tocumen International Airport and regional terminals in 2017 for a period of 120 months, the company CLH Aviación stated that it has successfully started providing operations and maintenance servicesand supplying fuel at the air terminal.
Price of a gallon of regular gasoline: Costa Rica $4.05, Nicaragua $3.77, Honduras $3.58, El Salvador $3.26, Guatemala $3.19 and Panama $2.91.
From a report by the Ministry of Economy of El Salvador:
The current reference prices show increases in all products due to the latest report provided by the Energy Information Administration (AIE), the issue of tariffs and international political sanctions by the US government. [GRAFICA caption = "Click to interact with graph"]
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 $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.
Puma Energy has announced the purchase of 100% of the capital stock of the Panamanian company Tropifuels, which operates Tropigas fuel service stations throughout the country.
In a statement the company dedicated to the distribution of oil and gas explained that with the acquisition of Tropifuels S.A.
In the view of importers of hydrocarbons, the bill discussed in Congress includes some factors that could put investments in the sector at risk.
The Honduran Oil Industry Council (Cohpetrol) asserts that the bill being discussed in Congress does not coincide with the work plan that was carried out jointly with the sector almost three years ago.
In 2016 total consumption went up by 8% compared to 2015, explained by a 15% increase in super gasoline and 12% in the A-1 jet fuel.
From a statement issued by Recope:
Fuel demand grew by 7.9% last year, going from 3,023,880,487 liters in 2015 to 3,263,072,075 liters in 2016, as a result of growth of the vehicle fleet, a price level for products which is relatively low compared to previous years, and the higher purchasing power of consumers due to low levels of inflation recorded in the period.
Price of gallon of regular gasoline: Panama $2.65, Guatemala $2.79, El Salvador $2.77, Honduras $3.23, Nicaragua $3.41, and Costa Rica, $3.67.
From a statement issued by the Ministry of Economy of El Salvador:
Variations in current reference prices of liquid fuels are being pushed upwards due to the usual volatility in international prices of oil and its derivatives, which this week have fluctuated due to uncertainty caused by the Organization of Petroleum Exporting Countries (OPEC) and producers outside of the group, having informal talks in Algeria during the International Energy Forum; also a surprise decline in US inventories, in light of a record drop in imports into the US Gulf of Mexico, which led to a fall in inventories to the lowest level since records began in 1990, due to the passage of tropical storm Hermine, which last week threatened activities in the Gulf of Mexico before moving to the eastern United States, an event which resulted in a drop of the country's oil production and a drop in imports, causing further increases in fuel prices in the region.
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