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"]
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"]
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.
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.
Price of a gallon of regular gasoline: Panama $2.54, El Salvador $2.61, Guatemala $2.65, Nicaragua $3.23, Honduras $3.29, and Costa Rica, $3.56.
From a statement issued by the Ministry of Economy of El Salvador:
Current variations in the reference prices of liquid fuels have directly benefited from the volatility seen in oil derivatives in the last week, there is anticipation over international prices because of the meeting OPEC held, where it was finally agreed to cut production of crude oil and its derivatives, oil market instability has been influenced on this occasion by the decisions of the leading oil producers, causing uncertainty in predictions of rises and falls in the following periods.
The union of transporters has warned that if the increase in the fuel tax is approved, "the cost of transporting cargo to Guatemala will rise by $12.75."
The government is proposing reforming the law of the Road Maintenance Fund to increase the tax levied per gallon of fuel from $0.20 to $0.37.
The Technical Secretary of the Presidency, Roberto Lorenzana, presented the proposal to the Assembly, arguing that"... it responds to the fulfillment of the commitment of the government to Fomilenio II for the disbursement of $106 million, $277 million that the US will hand over to the country."