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"]
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.
Prices for a gallon of regular gas: $5.46 Costa Rica, $4.99 Nicaragua, $4.81 Honduras, $4.36 Guatemala, $4.24 El Salvador.
From a statement issued by the Ministry of Economy in El Salvador:
The Ministry of Finance announced this July 21, new variations on the reference prices for fuel, which will be effective from 22 July to 4 August 2014.
During the month of July 2014, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States averaged a value of $92.58 per barrel, a decrease of -6.13% compared to the previous period. For its part, the international prices of petroleum products showed the following changes in the past few weeks:
Through its petroleum division Uno Costa Rica Terra Group bought seven service stations from the Costa Rican Grupo Colono.
Uno Costa Rica, the petroleum division of the Honduran Terra Group, has purchased seven services stations operated by the Costa Rican group Colono in Limon and Alajuela. The amount of the transaction has not been revealed.
This was confirmed by Uno from Honduras and "Victoria Velasquez, director of the Commission to Promote Competition, at the Ministry of Economy, Industry and Commerce (MEIC), responsible for approving or denying transactions of mergers and acquisitions in the country."
A decree under review proposes regulating the maximum amounts of certain substances allowed in gasoline.
The possible entry into force of the decree promoted by the Ministries of Environment and Health, has reactivated a conflict which has been going on for years with gasoline additive distributors.
It has been said that the sector would be harmed with the decree and even lose some of its investments as it trades products that contain these components. At the other extreme are products that do not have any added chemicals which would benefit from the decree, which would actually open up a stronger market in the country for them.
High fuel prices are seriously affecting the economy, making it necessary to consider removing the state monopoly in favor of free importation.
Jorge Guardia in an opinion piece in Nacion.com explains that the country must make two important decisions, the first is what to do with Recope and the second how to reduce fuel costs. He sets out three options for the first situation.
The directors of the Costa Rican state run entity RECOPE say that "there are already a number of studies which prove profitability," but as they can not produce them, they have announced that universities will be hired to do so.
Added to the $50 million that has already been spent on the project, will be these extra costs for more technical studies, and the recruitment of "national universities who will delve deeper, from academia, into the information which international consultants have already verified and approved."
The state fuel company Recope is working on two investment projects to supply aviation fuel to Daniel Oduber International Airport in Liberia.
The first project already being worked on by the Costa Rican Oil Refinery (Recope) is a new plant in the area, whose works are advanced by 26% so far. It also presented a blueprint for the construction of two tanks on the Barranca plant in Puntarenas to support storage.
The companies that acquired the Shell and Texaco service stations are preparing for changes in operation.
Delta Petroleum of Panama, which last year bought the assets of Shell Costa Rica will invest $4 million in renovations and changes to the brand image, said Mauricio Barzun,general manager ofDelta Petroleum Costa Rica.
As of September, Shell service stations will have their name changed to Delta.
In the first six months of the year $818 million was spent on oil, 60% more than the $510 million spent in the same period of 2009.
According to information from the Costa Rican Central Bank (BCCR), the increase in the number of barrels consumed was 6%, going from 8.89 million to 9.57 million.
"In 2011, BCCR forecasts the country's oil bill to increase 14.8%, making it the main cause of the balance of payments current account deficit.