Price of gallon of regular gasoline: Costa Rica $3.90, Nicaragua $3.69, Honduras $3.64, Guatemala $3.13, El Salvador $3.13 and Panama $2.74.
From a statement issued by the Ministry of Economy of El Salvador:
The reference prices for liquid fuels in El Salvador are being affected by an upward trend due to recent events that revolve around the latest OPEC meeting, where the 14 member countries along with 10 other countries producing oil and derivatives outside of the organization justified and maintained the decision to extend the extraction reduction until March 2018, together with a notice provided by the Energy Information Administration (EIA) on the reduction in inventories held by the United States by approximately more than 8 million barrels surpassing the expectations of analysts and international experts, also gasoline stocks fell by approximately 2.9 million barrels which has caused prices of gasolinesto be the most affected by this upward trend.[GRAFICA caption="Clic para interactuar con la gráfica"]
The Constitutional Chamber has rejected the appeal filed by deputies against the presidential decree that prevented a 72% increase in LP gas prices and 35% in bunker fuel.
From a statement issued by the Chamber of Industry:
"The Chamber of Industries of Costa Rica has welcomed the rejection by the Constitutional Chamber of the case of unconstitutionality brought by the Deputy of the PUSC Luis Vásquez and other Deputies against the Sectoral Policy of the Executive Power regarding the prices of industrial fuels, corresponding to Executive Decree 39437 of the MINAE, signed in January of last year.This defeats once more the specter of an excessive and disproportionate increase in fuel prices which our industry uses to compete in the world and with the world.
Price of the gallon of regular gasoline: Costa Rica $4.05, Honduras $3.69, Nicaragua $3.58, Guatemala and El Salvador $3.06, and Panama, $2.81.
From a statement issued by the Ministry of Economy of El Salvador:
The current reference prices for gasoline and diesel are trending downwards due to supply and demand, on the demand side, there is less economic activity in the world, especially in China; while on the supply side, as a consequence of a rapid recovery in unconventional oil extraction from wells in the United States and a slow reduction of inventories of this nation have caused a decrease inprices. Likewise, the prices of hydrocarbonsare surrounded by uncertainty about the course of the meeting that OPEC will hold on May 25 in Vienna, Austria, where further efforts will be made to reduce oil extraction by member and non-member countries until the end of the year. This year, in addition to geopolitical factors that are affecting prices in significant way and which could vary from moment to moment.[GRAFICA caption = "Click to interact with graphics"]
Price of a gallon of regular gasoline: Costa Rica $3.98, Honduras $3.72, Nicaragua $3.64, Guatemala $3.14, El Salvador $3.12 and Panama $2.81.
From a statement issued by the Ministry of Economy of El Salvador:
The fluctuating international prices of petroleum derivatives constantly affect the reference prices of liquid fuels in El Salvador, allowing prices to have dropped in the current fortnight, based on news about the United States having increased its oil wells which have recovered profitability in the face of price rises during the first tranche of 2017 together with the extraction of unconventional fuel (shale).[GRAFICA caption = "Click to interact with graphics"]
Price of gallon of regular gasoline: Costa Rica $3.81, Nicaragua $3.64, Honduras $3.33, Guatemala $3.01, El Salvador $2.99 and Panama $2.82.
From a statement issued by the Ministry of Economy of El Salvador:
The reference prices for liquid fuels in El Salvador (and in Central America) are directly affected by international events, seeing as we are a country that is a net importer and marketer of oil products, for which reason since the start of the year oil prices have risen by about 20 percent after the OPEC and other countries such as Russia agreed to cut production by nearly 1.8 million barrels a day, the OPEC and other Russia leaders will be meeting in late May to decide whether to extend the cuts until the end of this year, in addition as US production costs decline, pressure on other oil producers is intensifying, especially for nations that are trying to maintain prices by reducing daily production, The United States has attacked an air base of the Syrian Government with missiles and generated tension in the producing countries of the Middle East.
Price of gallon of regular gasoline: Costa Rica $3.80, Nicaragua $3.46, Honduras $3.30, Guatemala $2.89, El Salvador $2.88, and Panama $2.66.
From a statement issued by the Ministry of Economy of El Salvador:
The reference prices for gasoline and diesel have had a mixed performance due to the ongoing volatility and instability of international prices of petroleum products.[GRAFICA caption="Clic para interactuar con la gráfica"]
Delta Petroleum has announced the purchase of 19 service stations that the French company Total operates in Costa Rica.
The transaction is still subject to approval by the authorities, according to the companies.
The company Total said in a statement that"....'After several years in Costa Rica, we concluded that it would be difficult to achieve a significant market share in fuel distribution.However, we will maintain our presence in the distribution of special fluids and lubricants through a distributor and in Delta service stations', said Isabelle Gaildraud, Senior Vice President of the Americas at Total."
Price of gallon of regular gasoline: Costa Rica $3.82, Nicaragua $3.40, Honduras $3.32, Guatemala $2.86, El Salvador $2.84 and Panama $2.65.
From a statement issued by the Ministry of Economy of El Salvador:
The price trend is due to factors that have prevailed in recent months such as decisions taken by the OPEC, inventory accumulation in North America, demand, and unconventional oil production.[GRAFICA caption = "Click to interact with graphics"]
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:
Price of gallon of regular gasoline: Costa Rica $3.93, Nicaragua $3.46, Honduras $3.39, Guatemala $2.92, El Salvador $2.86 and Panama $2.70.
From a statement issued by the Ministry of Economy of El Salvador:
Reference prices in the current fortnight show mixed trends caused directly by rising average prices of petroleum, a situation that has been going on for months, which is why in the current fortnight, diesel prices have been affected.
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: Costa Rica $3.94, Nicaragua $3.47, Honduras $3.43, Guatemala $2.89, El Salvador $2.86 y Panama $2.70.
From a statement issued by the Ministry of Economy of El Salvador:
The volatility of international prices of products (gasoline and diesel) in the oil market persists, being the main factor affecting reference prices for fuels.It is worth noting that as final consumers we should be aware that the instability of oil prices andtheir fluctuations are permanent factors, making assertions and predictions about future prices unpredictable, however in the current fortnight trends in international prices have been caused by the following events:
Price of gallon of regular gasoline: Costa Rica $3.79, Nicaragua $3.51, Honduras $3.47, Guatemala $2.96, El Salvador $2.90 y Panamá $2.77.
From a statement issued by the Ministry of Economy of El Salvador: [GRAFICA caption = "Click to interact with graphics"] The reference prices of gasoline and diesel in El Salvador, experienced further declines, due to the impact generated by the increased production of petroleum and petroleum products in the United States, this enhancement is limiting the impact of the agreement reached by member countries and non-OPEC members; despite this, the volatility in international prices of petroleum remains impossible to predict.
Price of gallon of regular gasoline: Costa Rica $3.78, Nicaragua $3.61, Honduras $3.44, Guatemala $3.02, El Salvador $2.96 and Panamá $2.83.
From a statement issued by the Ministry of Economy of El Salvador:
Fuel prices in Central America, in the current fortnight, have gone up, having been directly affected by a recent recovery in international prices of oil derivatives, which has once again become a determining factor and one that is difficult to predict (ups and downs); Similarly, the rise in prices is largely dependent on compliance with the agreement on reducing world production taken by the OPEC in the first quarter of 2017 and expectations that revolve around the next meeting of that body, also having an effect is the increase in Chinese crude imports, which have helped reduce supply relative to demand.
Price of gallon of regular gasoline: Panama $2.61, Guatemala $2.88, El Salvador $2.90, Honduras $3.33, Nicaragua $3.43, and Costa Rica, $3.57.
From a statement issued by the Ministry of Economy in El Salvador:
The reference prices for gasoline and diesel have been affected due to a consolidated upward trend in international prices of oil and its derivatives [GRAFICA caption = "Click to interact with graphics"] during the month of December that just ended, the main cause of the increased prices is related to the production cut established at the last meeting of the OPEC.