Price of the gallon of regular gasoline: Costa Rica $4.02, Honduras $3.68, Nicaragua $3.61, El Salvador $3.24, Guatemala $3.21, and Panama $2.97.
From a report by the Ministry of Economy of El Salvador:
The drop in fuel prices is largely due to record US oil production, which for a second consecutive week exceeded 10 million barrels placing it as the second largest producer in the world below Russia; as well as an increase in exports, a reduction of imports and the strengthening of the dollar in the raw material markets at an international level.[GRAFICA caption = "Click to interact with graph"]
Price of gallon of regular gasoline: Costa Rica $3.98, Nicaragua $3.80, Honduras $3.71, Guatemala $3.32, El Salvador $3.32 and Panama $2.99.
From a report by the Ministry of Economy of El Salvador:
The United States reported its second increase in its oil inventories on February 7 of this year, in which its production reached a record of 10.25 million barrels per day (bpd) in the last week, as reported by the U.S. Energy Information Administration (EIA); where an 11 week downward streak was reversed, affected by low temperatures and the holiday season.
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.
Price of gallon of regular gasoline: Costa Rica $3.85, Nicaragua $3.70, Honduras $3.45, Guatemala $3.14, El Salvador $3.07 and Panama $2.92.
From a report by the Ministry of Economy of El Salvador:
According to experts "The oil market tends to react with nervousness and upward pressure on prices in the face of episodes of political instability in the Middle Eastern producing regions", in Saudi Arabia [concerns] grew during the week when the highest authorities accused Iran, also a member of the Organization, of being behind a missile shot over the airport of the Saudi capital that was eventually intercepted. [GRAFICA caption="Click to interact with graphics"]
Price of gallon of regular gasoline: Costa Rica $3.99, Nicaragua $3.58, Honduras $3.42, Guatemala $3.06, El Salvador $3 and Panama $2.83.
From a report by the Ministry of Economy of El Salvador:
The current reference prices are experiencing increases in all petroleum products (gasoline and diesel) due to the positive outlook for global fuel demand, and a decline in reserves, together with the expectations of the next meeting of the OPEC (Organization of Petroleum Exporting Countries) at the end of November in Vienna.[GRAFICA caption = "Click to interact with graphics"]
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. it will"...
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.
Price of gallon of regular gasoline: Costa Rica $3.78, Nicaragua $3.49, Honduras $3.36, Guatemala $2.92, El Salvador $2.86 and Panama $2.70.
From a statement issued by the Ministry of Economy of El Salvador:
Under the uncertainty surrounding the behavior of international prices of petroleum products due to supply and demand, which has been the primary and determinant factor in variations in oil prices, the reference prices of liquid fuels in the current fortnight once again show mixed trends in gasoline and new low diesel prices due to the following factors:
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.
In the first half of 2016 fuel sales grew by 11% compared to the same period last year.
From a statement issued by Recope:
Total fuel consumption continues to grow, in the first half of 2016 alone, sales increased by 11% compared to demand in the same period last year, going from 1,511,140,000 liters to 1,677,206,000 liters, which is a difference of 166 million liters, equivalent to about one million barrels.
Price of gallon of regular gasoline: $2.51, Guatemala $2.79, El Salvador $2.74, Honduras $3.15, Nicaragua $3.32, and Costa Rica, $3.82.
From a statement issued by the Ministry of Economy of El Salvador:
The rise in prices of oil products has been affected by a weakening of the dollar as a currency, as well as fires in Canada, instability in the region producing oil and its derivatives in Nigeria; and a series of suspensions of operations at refineries over fears of a possible hurricane heading towards the Gulf of Mexico, and added to this are supply disruptions in different parts of the world which have elevated international prices causing instability, confirming the volatility in the oil market, leading to abrupt price changes which are becoming impossible to predict, directly hitting the reference prices of liquid fuels in El Salvador.
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.