Driven by the demand for LP gas, super gasoline and diesel, fuel consumption in 2018 reached 3.386 million liters, 2% more than that recorded in 2017.
Data from the Costa Rican Petroleum Refinery (Recope) detail that between 2017 and 2018 total fuel consumption in the Costa Rican market increased by 68 million liters, going from 3,318 million to 3,386 million liters.
From January to November last year, fuel sales totaled 1.010 million gallons, 5% less than the 1.058 million gallons reported in the first eleven months of the previous year.
The most recent data published by the General Comptroller of the Republic of Panama details that during the first eleven months of 2018 the consumption of gasoline in the country, which includes the 91 and 95 octane, totaled 300 million gallons, 0.8% more than in the same period last year.
Price per gallon of regular gasoline: Costa Rica $3.94, Nicaragua $3.35, Honduras $3.27, El Salvador $2.78, Guatemala $2.78 and Panama $2.64.
From the report of the Ministry of Economy of El Salvador:
The latest report from 2018, provided by the International Energy Agency (AIE) reports that gasoline reserves experienced a significant increase of slightly more than 3.0 million barrels per week against expert forecasts that predicted a minimum increase of just 50,000 barrels per week. Also, distillates such as diesel, kept their production rate and was almost invariable its trend with respect to the previous week, as it only increased 2,000 barrels in the week, against an expectation of a 500 thousand barrels reduction, which despite the favorable environment for the reduction of such a derivative of oil along with heating, its stability allows prices to be downward, along with those of gasoline.
Price per gallon of regular gas: Costa Rica $3.94, Nicaragua $3.38, Honduras $3.36, El Salvador $2.86, Guatemala $2.82 and Panama $2.64.
From the report of the Ministry of Economy of El Salvador:
The current reference prices keep a clear downward trend, because of the oversupply provided by the three largest producers of oil and its derivatives, which represent 40% of world production.
From January to October of this year, fuel sales in the country totaled 924 million gallons, 5% less than the 974 million gallons reported in the first ten months of 2017.
The latest report published by the General Comptroller of the Republic of Panama details that during the first ten months of 2018 the fuel consumption in the country, which includes 91 and 95 octanes, totaled 274 million gallons, 0.7% more than in the same period last year.
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.
In El Salvador, the Legislative Assembly approved a ban on the importation and commercialization of fuels with a high Sulphur content, mainly diesel for vehicular use.
From the Legislative Assembly statement:
According to the Legislative Assembly, the import and commercialization of fuels with a high sulfur content was banned, mainly diesel for vehicular use, which must be fully applied based on the resolution of the Consejo de Ministro de Integración Económica de Centroamérica (COMIECO), where a commitment to import and commercialize only fuels with a low sulfur content was signed.
Consistent with the fall in new car sales reported in Panama since last year, fuel consumption has decreased around 6% up to September 2018.
Data from the General Comptroller detail that from January to September 2018, 12,938 new automobile type vehicles were registered, 21% less than the 16,299 units registered in the same period of 2017.
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.
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.
This week the company CLH Aviación started providing fuel supply services at Tocumen air terminal in Panama.
After having won the tender to supplyfuel and lubricants at Tocumen International Airport and regional terminals in 2017 for a period of 120 months, the company CLH Aviación stated that it has successfully started providing operations and maintenance servicesand supplying fuel at the air terminal.
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.
Price of a gallon of regular gasoline: Costa Rica $4.34, Nicaragua $3.96, Honduras $3.79, El Salvador $3.51, Guatemala $3.42 and Panama $3.25.
From a report by the Ministry of Economy of El Salvador:
According to the latest report from the Energy Information Administration Agency (EIA), gasoline stocks grew close to 1.2 million barrels at the end of the week, while distillates and diesel increased by approximately 1.8 million barrels, the increase recorded, confirms the favorable moment for refineries because the production rate has remained at 98.1%, providing sufficient supply to the market.
Price of a gallon of regular gasoline: Costa Rica $4.34, Nicaragua $3.95, Honduras $3.78, El Salvador $3.52, Guatemala $3.50 and Panama $3.24.
From a report by the Ministry of Economy of El Salvador:
August 13, 2018.The trends that have led to fuel prices experiencing highs and lows are due to fears about trade disputes between the United States and China, which has led to reduceddemand, since the Asian country is the world's largest importer of oil and its derivatives.
Price of a gallon of regular gasoline: Costa Rica $4.33, Nicaragua $3.96, Honduras $3.76, El Salvador $3.53, Guatemala $3.44 and Panama $3.22.
From a report by the Ministry of Economy of El Salvador:
For the second consecutive week there are mixed trends in the reference prices of liquid fuels in El Salvador, due to the international behavior of prices of oil and its derivatives, which according to the latest report from the Energy Information Administration Agency (EIA), show that the United States has seen a reduction in weekly gasoline reserves of 2.3 million barrels, since the North American country is in the summer period and it is the travel season when the highest amount of fuel consumption occurs; However, production (refining) has remained stable, since it has only decreased by 37,000 barrels of an estimated production of 1.5 million barrels per day, which has helped stabilize market prices.
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