Moderators Moderator_02 Posted April 13, 2017 Moderators Share Posted April 13, 2017 Quote US spring brings higher Panama gas prices Posted on April 12, 2017 in Panama Post Views: 100 THE ARRIVAL of spring in the USA means that fuel prices in Panama will rise Friday, April 14, says the National Energy Secretariat. 95 octane will be sold at 0.771 a literup from 0.732. Meanwhile 91 octane will increase to 0.745. from 0.703 a liter. Diesel will be sold at 0.623 a liter, up from Is 0.597. Prices will apply until April 28. “The factor attributed to this adjustment is because in the United States there is a change of season from winter to spring, which gives rise to greater demand and causes prices to rise” says the Secretariat. http://www.newsroompanama.com/news/panama/us-spring-brings-higher-panama-gas-prices Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted April 28, 2017 Moderators Share Posted April 28, 2017 Quote Gas prices fall, diesel climbs Posted on April 27, 2017 in Panama Post Views: 85 The price of gasoline will fall between 3 and 5 cents on Friday April 28 in time for the long weekend incorporating May Day. 95-octane gasoline will drop five cents to $.766 a liter, and 91 octane will fall three cents to $.742 a liter, says Panama’s Energy Secretariat. The price of diesel, however, will rise 6 cents to $ .629 a liter. The new prices, which affect the capital and the Caribbean city of Colón, will take remain in place until May 12. In the rest of the country, fuel prices are slightly higher because of transportation costs, say the Energy Secretariat, which updates fuel prices every 15 days. http://www.newsroompanama.com/news/panama/gas-prices-fall-diesel-climbs Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 11, 2017 Moderators Share Posted May 11, 2017 http://www.prensa.com/in_english/viernes-gasolina-centesimos-octanos-centesimo_21_4753984562.html Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted May 24, 2017 Moderators Share Posted May 24, 2017 Quote Central America: Fuel Prices up to May 9 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. Monday, May 22, 2017 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 in prices. Likewise, the prices of hydrocarbons are 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. http://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_May_9_1 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 7, 2017 Moderators Share Posted June 7, 2017 Quote Central America: Fuel Prices up to June 5 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. Monday, June 5, 2017 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 gasolines to be the most affected by this upward trend. Clic para interactuar con la gráficaClic para interactuar con la gráficaThe changes in international prices of refined products (gasoline and diesel) in recent weeks have influenced prices in Central America, placing El Salvador first in terms of the lowest prices for regular gasoline, sharing first place with Guatemala in terms of lowest prices for special gasoline, first place for the lowest prices for diesel and second for the lowest prices on low sulfur diesel in Central America. (Price in dollars) Diesel Regular Special El Salvador 2,52 3,13 2,88 Guatemala 2,32 3,13 2,93 Honduras 2,87 3,64 3,24 Nicaragua 2,95 3,69 3,55 Costa Rica 2,93 3,90 3,71 Panama* 2,30 2,74 2,89 *Data taken from Acodeco.gob.pa http://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_June_5 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted June 22, 2017 Moderators Share Posted June 22, 2017 Quote Gasoline and diesel prices down Posted on June 21, 2017 in Panama Post Views: 87 PANAMA drivers will benefit from falling oil prices this weekend when both 91 and 95 octane gasoline will cost four cents a liter less. The National Energy Secretariat (SNE) announced on Wednesday, June 21 the new prices for gasoline and diesel that will be in force as from 6 a.m. Friday, June 23. Aliter of diesel will fall 3 cents. In the provinces of Panama and Colon, 95-octane gasoline will cost.711 cents per liter and a liter of 91 octane will be . 687. and ULS diesel will be .576 a liter. The new prices will be in force until Friday, July 7. http://www.newsroompanama.com/news/panama/gasoline-diesel-prices Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted July 21, 2017 Moderators Share Posted July 21, 2017 Quote Gasoline and diesel up 2 cents Posted on July 19, 2017 in Panama Post Views: 120 GASOLINE and diesel prices will climb two cents a liter on Friday, July 21. The National Energy Secretariat confirms that the new price at the pumps will be 73 cents a liter for 95 octane and 71 cents a liter for 91 octane. Low sulfur diesel will increase two cents and cost 59 cents a liter. The changes will be effective from 6:00 am on Friday 21, until August 4. http://www.newsroompanama.com/news/panama/gasoline-diesel-2-cents Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 2, 2017 Moderators Share Posted August 2, 2017 Quote Central America: Fuel Prices up to of July 31 Price of a gallon of regular gasoline: Costa Rica $3.68, Nicaragua $3.48, Honduras $3.26, El Salvador $2.87, Guatemala $2.80 and Panama $2.59. Monday, July 31, 2017 From a statement issued by the Ministry of Economy of El Salvador:OPEC and non-member countries met in Russia in the city of St. Petersburg to review market conditions and generate new proposals linked to their pact to reduce production, in which they considered extending their cut beyond March 2018, the Saudi Arabia's Minister energy minister, Khalid al-Falih, said his country would limit crude oil exports to about 6.6 million barrels per day, almost one million below a year ago, in order to help accelerate the rebalancing of global supply and demand. In the United States, reports published by the International Energy Agency (IEA) show a sharp decline in crude oil reserves in the last two weeks. Added to this, price instability has put unconventional oil producers on alert, preventing them from aggressively resuming production, lower drilling growth and slowing up the overabundance of supplies, which means an increase in international prices of derivatives. Prices in dollars Regular Special Diesel El Salvador 2.87 3.04 2.39 Guatemala 2.80 3.00 2.19 Honduras 3.26 3.56 2.81 Nicaragua 3.48 3.56 2.87 Costa Rica 3.68 3.85 2.91 Panamá* 2.59 2.66 2.18 *Data taken from Acodeco.gob.pa http://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_of_July_31 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted August 4, 2017 Moderators Share Posted August 4, 2017 Quote Gasoline and diesel prices raised Posted on August 3, 2017 in Panama Post Views: 115 GASOLINE and diesel prices will rise on Friday, August 4, but will still remain the lowest in Central America. The National Energy Secretariat, reports that 95-octane gasoline will cost climb three cents to 75 cents a liter a liter while 91-octane will increase two cents to 73 cents a liter Diesel will also increase of three cents to 62 cents a liter. The new prices will run from 6:00 a.m. and remain in effect until Aug 18. Despite progressive increases in OPEC fuel, since the beginning of the year, Panama has kept the lowest cost in the region says the Secretariat. http://www.newsroompanama.com/news/panama/gasoline-diesel-prices-raised Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted September 1, 2017 Author Share Posted September 1, 2017 (edited) Panama Fuel Prices from September 1st to 15th. The price of 91 Octane gasoline remains the same, while 95 and Diesel have dropped slightly. Edited September 1, 2017 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
Uncle Doug Posted September 1, 2017 Share Posted September 1, 2017 I don't know the source of Panama's fuel, but if it comes from the refineries along the Texas Gulf Coast, we shouldn't be surprised to see a significant price spike until those refineries are able to reopen after the storm. Quote Link to comment Share on other sites More sharing options...
JudyS Posted September 1, 2017 Share Posted September 1, 2017 1 hour ago, Uncle Doug said: I don't know the source of Panama's fuel, but if it comes from the refineries along the Texas Gulf Coast, we shouldn't be surprised to see a significant price spike until those refineries are able to reopen after the storm. I thought it came from Venezuela, which is just as bad. I don't know how the country is exporting anything, considering the conditions there. Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted September 1, 2017 Author Share Posted September 1, 2017 In previous fuel crises, the Secretariat National of Energy of Panama subsidized a portion of sudden increases and clawed them back later. Big oil stuck all their fuel refining capacity in one soggy bottomed section of North America and then just keeps on gouging the consumer when the inevitable happens. Quote Link to comment Share on other sites More sharing options...
Uncle Doug Posted September 1, 2017 Share Posted September 1, 2017 Most of the US refineries are located elsewhere. Los Angeles, San Francisco, Seattle, Philadelphia, Chicago, all have enormous refineries. The Houston area is the largest single concentration of them because of the offshore oil production in the Gulf of Mexico, as well as being situated as the best port for importing oil into the United States, but it represents less than a third of US refining capacity. This site shows that Panama has been importing about 5 million gallons per month of gasoline, diesel, and jet fuel from the US. https://www.eia.gov/dnav/pet/PET_MOVE_NETI_DC_NUS-NPM_MBBLPD_M.htm Refineries in Corpus Christi and in Louisiana are still operational. But there are going to be shortages for at least a couple more weeks. There are long lines for gasoline in places as far away as Dallas. 1 Quote Link to comment Share on other sites More sharing options...
TwoSailors Posted September 1, 2017 Share Posted September 1, 2017 1 hour ago, Uncle Doug said: This site shows that Panama has been importing about 5 million gallons per month of gasoline, diesel, and jet fuel from the US. https://www.eia.gov/dnav/pet/PET_MOVE_NETI_DC_NUS-NPM_MBBLPD_M.htm Ok, Doug. But when you look at the data in this link it shows in all columns that there is a (-) minus number. Even the total. Unless I am reading this wrong it looks to me that Panama is not getting any fuel from the US. I hear as well that the fuel comes from Venezuela and Mexico...which would be cheaper and less transportation cost. The tanker ships off loading at Puerto Armuelles petrol storage facility are coming from somewhere. Quote Link to comment Share on other sites More sharing options...
Uncle Doug Posted September 1, 2017 Share Posted September 1, 2017 (edited) That particular page shows the Panama/US statistics. The (-) minus represents a US export. Look at this page to see the overall picture. https://www.eia.gov/dnav/pet/pet_move_neti_a_EP00_IMN_mbblpd_m.htm Scroll down to Canada, for example, and you'll see a huge positive number. All the numbers are in barrels (42 US gallons) per day, so you can see that the US is importing a lot of crude oil from Canada. But then look at Japan, or the Bahamas. Those are negative numbers because it represents the flow of petroleum and the by-products is in the other direction, i.e., exports. I have no idea where tankers at Puerto Armuelles come from. Surely not from Texas. It could be from Mexico or even Southern California. It would make sense the terminal at Colon would get product from sources in Texas, Mexico, and Venezuela. I can't find any information on the origin of all the fuel here in Panama, but the page does show that it's getting that much from US sources. Edited September 1, 2017 by Uncle Doug Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted September 1, 2017 Author Share Posted September 1, 2017 (edited) My rant about big oil is because the price of regular gasoline has already jumped 15 cents a litre this week in Toronto, which is thousands of miles away from the storm. This flow chart of the national fuel supply indicates USGC, Rotterdam and Singapore as being suppliers to Panama. Edited September 1, 2017 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
Uncle Doug Posted September 2, 2017 Share Posted September 2, 2017 (edited) Keith, I think that's a model of how pricing of crude oil around the world affects Panama, rather than where our deliveries originate. Those are names of index price points for the type of crude oil and then the location of the refined products. Those indexes are the wholesale price of that type of product at that location. The real price is based on the index plus whatever it costs to get the product actually delivered to a consumer location. There is no way in the world that it would make economic sense for Panama to import gasoline from Rotterdam in the Netherlands. Sure, there are refineries there, but the shipping costs would be enormous to Panama. Same for Singapore. The indexes do have a subtle effect on each other, but they always differ based on local market conditions. Panama is getting its fuel from the cheapest sources available, just like every other country which has to import fuel. North American refinery capacity just took a big temporary hit. Pipelines cross national borders. I don't know, but I'll bet Toronto gets a lot of its gasoline from the refineries in the US. It's a global market, but local conditions of supply and demand is what sets the price at any given moment. Right now, the price of oil is falling, but the price of gasoline is rising. Why? Because those refineries shut down by the hurricane are not buying right now. Less global demand for unrefined crude oil, so prices fall. But there's less gasoline being produced globally because of this, so gasoline prices will rise. That's not a conspiracy, that's just how markets for commodities work. What we are seeing right now is a temporary condition. The refineries certainly don't want to be shut down. If the refineries aren't heavily damaged and can get back online in a couple of weeks, it really won't matter too much. Gasoline costs will drop to pre-storm levels and any effect in Panama would be short-lived. Edited September 2, 2017 by Uncle Doug Quote Link to comment Share on other sites More sharing options...
TwoSailors Posted September 2, 2017 Share Posted September 2, 2017 Uncle Doug, Interesting 32 minutes ago, Uncle Doug said: Right now, the price of oil is falling, but the price of gasoline is rising. Why? Because those refineries shut down by the hurricane are not buying right now. Less global demand for unrefined crude oil, so prices fall. But there's less gasoline being produced globally because of this, so gasoline prices will rise. That's not a conspiracy, that's just how markets for commodities work. information. You must have been connected to the fossil fuel industry in your previous employment life. Quote Link to comment Share on other sites More sharing options...
Keith Woolford Posted September 2, 2017 Author Share Posted September 2, 2017 (edited) 58 minutes ago, Uncle Doug said: What we are seeing right now is a temporary condition. The refineries certainly don't want to be shut down. If the refineries aren't heavily damaged and can get back online in a couple of weeks, it really won't matter too much. Gasoline costs will drop to pre-storm levels and any effect in Panama would be short-lived. Thanks Doug. Quote I'll bet Toronto gets a lot of its gasoline from the refineries in the US. Yes, probably so and that's what irks me. Shipping crude oil south to return as refined fuel might make better economic sense but it's at the cost of energy independence. Edited September 2, 2017 by Keith Woolford Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 14, 2017 Moderators Share Posted September 14, 2017 Quote Hurricane Harvey hikes Panama gas prices Posted on September 13, 2017 in Panama Post Views: 113 PANAMA motorists will feel the delayed effects of Hurricane Harvey from Friday, Sep. 15 as gasoline record their biggest price jump in years. The Energy Secretariat reported Wednesday, Sep. 12 that prices will increase 13 cents a liter for 95 octane gasoline; 6 cents a liter for 91 octane gasoline and diesel approximately 5 cents a liter, A liter of 95 octane gas will cost 89 cents, 91 octane 79 cents and diesel 67 cents in Panama City. Elsewhere in the country prices will be higher, depending on the distance from the original distribution center. The prices will remain in effect until September 29 According to the Secretariat, the increase is due to the ravages of Hurricane Harvey in the Gulf of Mexico in the United States. “It should be noted that the fuel distribution companies operating in Panama buy gasoline and diesel from refineries affected by the climatic events recorded weeks ago,” the authority said. The supply of gasoline in all its variations will continue on a regular basis and the ships carrying fuels arrive to our country with normality, the sources added. Hurricane Harvey closed a quarter of US refineries and 8% of the country’s oil production in South Texas, one of the main centers of its oil sector http://www.newsroompanama.com/news/panama/hurricane-harvey-spirals-panama-gas-prices Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 11, 2017 Moderators Share Posted October 11, 2017 Quote Central America: Fuel Prices up to October 9th Price of gallon of regular gasoline: Costa Rica $3.97, Nicaragua $3.58, Honduras $3.45, Guatemala $3.02, El Salvador $3.01 and Panama $2.83. Monday, October 9, 2017 From a report by the Ministry of Economy of El Salvador Current supply price fluctuations are due to the fact that it was announced that the number of active oil rigs in the United States is to rise for the first time in the last seven weeks to 750. Likewise, there have been increases in inventories of US gasoline. (1.6 million barrels, data from the US Department of Energy) as a result of the reactivation of production in the Texas fields, while distillates and diesel show drops in their inventory (2.6 million barrels, data from the US Department of Energy) causing international prices to rise. Price in dollars Regular Special Diesel El Salvador 3.01 3.29 2.65 Guatemala 3.02 3.20 2.58 Honduras 3.45 3.97 3.15 Nicaragua 3.58 3.75 3.13 Costa Rica 3.97 4.16 3.34 Panama* 2.83 3.05 2.56 *Data taken from Acodeco.gob.pa https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_October_9 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted October 13, 2017 Moderators Share Posted October 13, 2017 Quote Gasoline prices down again Friday Posted on October 11, 2017 in Panama Post Views: 155 A SECOND successive reduction the price of gasoline in Panama will push the cost of 95 octane below $3 a gallon to $2.91. and 91 octane to $2.75 on Friday, October 13. 95 octane gasoline will decrease by $.035 a liter or 13 cents a gallon, while the 91-octane will d a slight decrease of $0.005 a liter and the gallon $0.018, according to the National Secretariat of Energy. http://www.newsroompanama.com/news/panama/gasoline-prices-friday Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted November 10, 2017 Moderators Share Posted November 10, 2017 Quote Central America: Fuel Prices up to November 6 Price of gallon of regular gasoline: Costa Rica $3.99, Nicaragua $3.58, Honduras $3.42, Guatemala $3.06, El Salvador $3 and Panama $2.83. Monday, November 6, 2017 From a report by the Ministry of Economy of El Salvador:The current reference prices are experiencing increases in all petroleum products (gasoline and diesel) due to the positive outlook for global fuel demand, and a decline in reserves, together with the expectations of the next meeting of the OPEC (Organization of Petroleum Exporting Countries) at the end of November in Vienna. The strategic inventories of gasoline in the North American country were reduced by approximately 4 million barrels in the last week due to maintenance of oil pipelines in the Houston area, which transports the fuel to the northern part of the country; while diesel and distillates fell by a smaller scale by 320,000 barrels in the last week, but heating consumption has caused prices to continue to rise. Price in dollars Regular Special Diesel El Salvador 3.00 3.19 2.69 Guatemala 3.06 3.24 2.64 Honduras 3.42 3.78 3.13 Nicaragua 3.58 3.79 3.13 Costa Rica 3.99 4.18 3.36 Panama* 2.83 3.05 2.56 *Data taken from Acodeco.gob.pa https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_November_6 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted December 22, 2017 Moderators Share Posted December 22, 2017 Quote Gas prices down for holiday season Posted on December 21, 2017 in Panama Post Views: 116 MOTORISTS using gasoline will get some seasonal cheer on Friday, Dec 22, that will carry them through Christmas and into the new year with a fall in prices at the pump. 91 octane gasoline will drop 13 cents per liter and 91 octane gasoline will drop 15 cents per liter. The SNE says that in the provinces of Panama and Colon 91-octane gasoline will be 0.769 a liter and 91-octane 0.748 per liter Meanwhile, Santa has not been so kind to diesel users with ultra-low sulfur diesel rising 3 cents a per liter. Prices will remain in effect in Panama and Colon provinces until January 5. http://www.newsroompanama.com/news/panama/gas-prices-holiday-season Quote Link to comment Share on other sites More sharing options...
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