In Guatemala, Chevron S.A. plans to invest in the expansion of the capacity of its hydrocarbon storage plant, which is located in the municipality of Puerto Barrios, Izabal.
According to the interactive platform "Construction in Central America" of CentralAmericaData's Trade Intelligence area, Chevron Guatemala S.A., submitted to the Ministry of Environment the Environmental Impact Assessment (EIA) to develop the project called "Expansion of fuel terminal storage capacity of Puerto Barrios."
Since the pilot plan to test the efficiency of ethanol use in gasoline in Guatemala has yielded the first positive results, the authorities plan to present a bill to regulate its use in the first quarter of 2021.
In 2014 and 2015 a pilot plan was already carried out in Guatemala, which will be resumed for 10 weeks, a period in which tests will be carried out to mix 5% to 10% ethanol, in the different gasoline that are consumed locally.
A presidential decree gives the National Energy Secretariat the power to regulate maximum retail prices for 91 and 95 octane gasoline and low-sulfur diesel.
The regulation of maximum prices will be in effect for a six-month period, which may be extended, according to Executive Decree No. 474 of June 10, 2020 published in the Official Journal.
The National Energy Secretariat authorized the service stations that sell gasoline in the country to temporarily close their operations in the context of the health and economic crisis.
Resolution N. 4730 of April 23, 2020, allows those service stations that due to low sales volume, and whose location does not affect agricultural, logistical, commercial and strategic activities for Panamanians, may opt for the temporary closure of their services due to the emergency, authorities informed last April 24.
In Central America, it is projected that the impact of the Covid-19 crisis on the business of retail sales of gasoline and oil products will be explained mainly by the expected drop in gasoline and diesel sales.
Price per gallon of regular gasoline: Costa Rica $3.87, Nicaragua $3.28, Honduras $3.27, Guatemala $2.93, El Salvador $2.54 and Panama, $2.81
From the Ministry of Economy report of El Salvador:
The current reference prices present significant declines for gasoline and diesel, these declines respond directly to the events of the break of the pact between OPEC, led by Saudi Arabia, and the countries that had made an alliance with the organization, represented by Russia.
Price per gallon of regular gasoline: Costa Rica $3.82, Nicaragua $3.61, Honduras $3.39, Guatemala $2.99, El Salvador $2.98 and Panama $2.81.
From the Ministry of Economy of El Salvador report:
The current reference prices for gasoline and diesel maintain a mixed trend (ups and downs), these variations are because of the continuous fall in the reserves of these products.
During January of this year in Panama 90 million gallons of fuel were sold, a figure that is 7% less than that reported in the same month of 2019.
The General Comptroller of the Republic reported that during the first month of 2020, gasoline consumption in the country, which includes 91 and 95 octanes, fell to 27.9 million gallons, 1.3% more than the 27.5 million gallons registered in January 2019.
Price per gallon of regular gasoline: Costa Rica $4.10, Nicaragua $3.51, Honduras $3.39, El Salvador $2.95, Guatemala $2.92 and Panama $2.81.
From the report of the Ministry of Economy of El Salvador:
The current reference prices for gasoline and diesel show a mixed trend (ups and downs), these variations are due to the continuous fall in the reserves of these products, according to reports provided by the IEA in February 2020.
During 2019 the consumption of diesel, gasoline and gas, products with the highest participation in the oil bill, reached Ch$2,719 million, a 0.8% lower amount than that reported in 2018.
Figures from the General Direction of Hydrocarbons (DGH) detail that between 2018 and 2019 the Guatemalan oil bill was reduced by $21 million, from $2.719 million to $2.041 million.
The private sector believes that Ortega's creation of new state-owned companies to exploit oil and import and market gas and fuel will generate dumping in the country.
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