Price per gallon of regular gasoline: Costa Rica $3.93, Nicaragua $3.55, Honduras $3.48, El Salvador $2.97, Guatemala $2.92 and Panama $2.77.
From the Ministry of Economy of El Salvador report:
During the last two months, the oil and its derivatives production has reached higher figures than expected, this is because the two largest producers, the United States and Saudi Arabia, have recorded figures never seen before.
Estimating how much customers would pay if they bought from a competitor and defining how the product offered differs from others are some of the strategies used to help increase sales profitability.
Ariel Banos, specialist in price management and founder of Fijaciondeprecios.com, explains how through the "umbrella strategy" companies can stop using discounts as the only selling tool.
Although in the first nine months of the year foreign sales fell almost 3% compared to the same period in 2017, the Banco de Guatemala forecasts that the trend will be reversed by the end of 2018.
The fall in the international prices of sugar, coffee and natural rubber, largely explain the decline in income from sales abroad. According to figures from the Banco de Guatemala (Banguat), up to September, foreign sales totaled $8.147 million, 2.6% less than the figure recorded in the first nine months of last year.
Price per gallon of regular gas: Costa Rica $4.11, Nicaragua $3.83, Honduras $3.66, Guatemala $3.17, El Salvador $3.16 and Panama $2.98.
From the report of the Ministry of Economy of El Salvador:
The latest production and export reports from the United States and Saudi Arabia have provided international price relief for oil and its products. The North American country, through the International Energy Agency (IEA), reported that in the last week it reached a maximum production of 11.6 million barrels a day (100 thousand barrels more than two weeks ago) due to unconventional production (shale). While the Arab country, the largest producer of the Organization of the Petroleum Exporting Countries (OPEC), reported an increase of approximately 127 thousand barrels more to 10.8 million barrels per day, which has led to an excess in supply over current demand for fuels.
In the tenth month of the year, the CPI showed a monthly variation of 0.34%, mainly because of the behavior of Transport and Recreation prices.
The most important inflation levels of October 2018 are the following: a monthly inflation of 0.34%, an inflationary rate of 4.34% and an accumulated inflation of 2.48% were registered, according to the National Statistics Institute.
Price per gallon of regular gas: Costa Rica $4.11, Honduras $3.84, Nicaragua $3.79, El Salvador $3.37, Panama $3.32 and Guatemala $3.29.
From the report of the Ministry of Economy of El Salvador:
The production increase of the three major exporters of petroleum and its products at the end of October 2018 has contributed to the fall in international prices; the United States have produced approximately 11.5 million barrels per day, 500 thousand barrels more than its average production; Russia 11.3 million barrels per day, expecting to reach 11.4 million barrels per day in the next weeks; while Saudi Arabia produces an average of 10.7 million barrels per day, with expectations of increasing to 11 million barrels per day. With this increase in production, the International Energy Agency (IEA) has expressed that the oil markets seem " suitably supplied for now," and with a lower expectation in the demand for petroleum and products for 2019.
In September, the FAO food price index decreased 7% compared to the same month in 2017, because of lower prices for meat, dairy products, cereals, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 163.5 points in October 2018, down 1.4 points (0.9 percent) from September and some 13 points (7.4 percent) below its level in the corresponding period last year.
Price per gallon of standard gasoline: Costa Rica $4.21, Nicaragua $4.07, Honduras $3.87, El Salvador $3.56, Guatemala $3.52 and Panama $3.21.
From the report of the Ministry of Economy of El Salvador:
According to data from the IEA, the United States is in full season of hurricanes and the passing of Hurricane Michael through the Gulf of Mexico, on the production of crude oil and derivatives, generated losses in the two days of closure of the storm that represented about 9% of U.S. production of 11.1 million barrels per day. Making the reference prices for gasoline and distillates will present mixed fluctuations.
Only a few companies are aware of the true impact of a proper strategy and price management on the profitability of the organization.
Ariel Baños, pricing specialist and founder of Fijaciondeprecios.com, explains why it is critical for organizations to control the variable with the most impact on their results, and details the five reasons for implementing a pricing area in companies:
Regular gasoline gallon price: Costa Rica $4.28, Nicaragua $3.99, Honduras $3.83, El Salvador $3.57, Guatemala $3.38, and Panama $3.21.
From the Ministry of Economy of El Salvador report:
As a result of the last meeting held by the Organization of Petroleum Exporting Countries (OPEC) in Algeria last September 23rd together with countries not belonging to the organization led by Russia, it was agreed not to increase the production of crude oil despite the deficit generated by the third largest producer of the organization (Iran), due to the financial sanctions imposed by the United States; This has directly impacted the international prices in a notorious tendency to increase in the last weeks, since there will be less product (crude oil and all its products) to offer before a growing demand, and that the United States by itself cannot cover, unless OPEC increases its production, a subject that will be taken up until the meeting on December 3rd in Vienna, Austria.
After the Consumer Price Index reported interannual variations of 2.6% and 3.3% in July and August, in September the inflationary rhythm increased to 4.6%.
From the National Statistics Institute report:
The most important inflation levels in September 2018 are the following: monthly inflation of 0.60%, inflation rate of 4.55% and accumulated inflation of 2.13%.
In September, the FAO food price index decreased 7% compared to the same month in 2017, explained by the decline in prices of meat, dairy products, cereals and vegetable oils.
of the monthly report FAO:
» The FAO Food Price Index* (FFPI) averaged 165.4 points in September 2018, down 2.3 points (1.4 Percent) from August and some 13 points (7.4 percent) below its level in the corresponding period last year.
Price of a gallon of regular gasoline: Costa Rica $4.31, Nicaragua $3.90, Honduras $3.81, El Salvador $3.51, Guatemala $3.40 and Panama $3.23.
From a report by the Ministry of Economy of El Salvador:
According to the latest report provided by the International Energy Agency (AIE) gasoline stocks went down by approximately 1.7 million barrels per week, but it was not so for distillates and diesel which had a slight increase in their reserves, of approximately 0.8 million barrels per week.
Price of a gallon of regular gasoline: Costa Rica $4.3, Nicaragua $4, Honduras $3.8, El Salvador $3.51, Guatemala $3.47 and Panama, $3.25.
From a report by the Ministry of Economy of El Salvador:
The meteorological report for the Gulf of Mexico, offered at the beginning of the week of September 3, caused increases in the prices of petroleum products, including distillates such as diesel, due to the imminent passage of tropical storm "Gordon". This climatic event threatened to become a hurricane, which put on alert all oil rig areas, approximately 54 platforms (Alabama, Mississippi and Louisiana) which were evacuated before the arrival of the storm, in addition floods of up to 1.5 meters were expected to occur due to the rising tide, in some refining areas.
In the eighth month of the year, the CPI registered a monthly variation of 0.44%, mainly explained by the behavior of prices in the category of Food and Restaurants.
From a report by the National Institute of Statistics:
The most significant inflation levels in August 2018 are the following: monthly inflation of 0.44% was registered, inflationary rhythm of 3.36% and accumulated inflation of 1.53%.