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.
Price of gallon of regular gasoline: Costa Rica $4.03, Nicaragua $3.59, Honduras $3.45, Guatemala $3.18, El Salvador $3.13 and Panama $2.92.
From a report by the Ministry of Economy of El Salvador:
The reference prices for gasoline and diesel will experience new increases as of December 5 due to the mixed behavior of the international prices of petroleum products; supported by the extension of the pact established by the Organization of Petroleum Exporting Countries (OPEC) in reducing production of crude oil and oil derivatives.[GRAFICA caption = "Click to interact with graphics"]
In the first half of the year 2.4 million metric tons of marine fuel were shipped into the country's port terminals, 24% more than in the same period in 2016.
The start of operations of the expanded Canal is the main reason behind the increase of almost 24% in the sale of marine fuel to boats in Panamanian ports, according to representatives from the sector. Figures from the Panama Maritime Authority report that between January and June, 2.4 million metric tons of marine fuel were traded, 461 thousand tons more than in the first half of last year.
In 2016 28.8 million barrels of fuel were sold to ships, which is 3.1 million barrels more than in the previous year.
Figures from the Panama Maritime Authority indicate that most of the bunker fuel was marketed in the Pacific, with 23.8 million barrels, while the remaining 4.9 million barrels were shipped across the Atlantic.
Between January and August 2016, 2.5 million metric tons of marine fuel were sold, 7% more than in the same period in 2015.
The biggest sales growth was recorded in January, with a rise of 17%.Although the increase between 2015 and 2016 is lower than that recorded between 2014 and 2015,"...
So far this year Chevron has invested $8 million in the opening of three stations and plans to start expanding the storage terminal in Acajutla.
The project to expand the storage terminal operating in Acajutla consists in increasing capacity"... by about 150 thousand barrels of fuel with the operation of two other tanks which will come online next year." Currently the plant has six tanks for diesel and gasoline, with a storage capacity of 300,000 gallons.
On October 25 and 26 companies in the maritime industry will be gathering together in Panama City to discuss the impact of the enlargement of the Canal on the bunkering activity.
From a statement issued by the Maritime Chamber of Panama:
On 25 and 26 October 2016, the third edition of Panama Bunkering Forum will be held with the theme: EXPANSION AND NEOPANAMAX, New Challenges for Industry, in the Panama Wyndham Hotel, an event organized by the Maritime Chamber of Panama.The conference will last for two full days, and will include discussions of topics of interest and of direct impact to this auxiliary maritime industry which represents a significant contribution to the maritime conglomerate of Panama.This event will feature the presence and support of the Maritime Authority of Panama, the Panama Canal Authority and the Logistics Cabinet.
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.
Price of gallon of regular gasoline: Panamá $2,63, Guatemala $2,71, El Salvador $2,81, Honduras $3,22, Nicaragua $3,46, y Costa Rica, $3,36.
From a statement issued by the Ministry of Economy of El Salvador:
The Ministry of Economy announced on June 6, that the reference prices for fuels, in force from 7 to 20 June 2016, will experience an increase in their prices.
Total fuel storage capacity in the country is 29.8 million barrels, with Petroterminal de Panama´s tank representing 50% of the figure.
Panama has a storage capacity of 29.8 million barrels of oil, according to the latest report from the country's National Energy Secretariat.
The Fuel Free Zone (ZLC by its initials in Spanish) Petroterminal de Panama occupies almost half of the total capacity, through its two tank estates: Charco Azul in Chiriqui, which has a capacity of 7.5 million barrels, and Chiriqui Grande in Bocas del Toro, with a capacity of 7 million barrels. Both store oil and oil derivatives.
Construction has been announced of 9 additional storage tanks and a pier with two berths to supply 2.5 million barrels.
From a statement issued by the National Secretariat of Energy in Panama:
The sale of marine fuel or bunkering, an activity that generates about $900 million a year to the country's economy, will grow with the expanding operations of the Free Zone for Fuels, located in Bahía Las Minas, Colon Province.