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Fuel (Gasoline and Diesel) Prices and Consumption Levels [An Ongoing Saga As Occurring]


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Gasoline prices down for Friday

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FUELS will come down in price starting Friday, October 26. The 95-octane gasoline will drop .045 cents per liter or .17 per gallon. A liter will sell at .86  cents and a gallon at $3.28 in the provinces of Panama and Colon. The 91 octane will decrease 05 per liter or.18 per gallon, to sell at 82 cents a liter and $3.13 dollars a gallon. Low sulfur diesel will only drop .01 per liter or.06 per gallon. to.81 a liter or $3.10 dollars a gallon Prices remain in effect until Nov. 9.
 

https://www.newsroompanama.com/news/panama/gasoline-prices-down-for-friday

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Fuel prices down across the board

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Gasoline and diesel prices continue their downward trend. The National Energy Secretariat announced that beginning at 6:00 am on  Friday, November 9,  the  95 octanes will decrease five cents a liter to  .816, while 91 octane will drop four cents to   .787 a liter. Low sulfur diesel will drop two cents per liter to .798. The new prices will continue until November 23.
 

https://www.newsroompanama.com/news/panama/fuel-prices-down-across-the-board

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Central America: Fuel Prices up to November 19th

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.

Monday, November 19, 2018

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.

A further determining factor emerges after the U.S. administration eased its position regarding the sanctions imposed on Iran from November 4th and granted exonerations to Iran to eight countries, among Asians and Europeans, import oil and derivatives from the Iranian country, this temporary concession of 6 months allows for more supply in the world market. Due to these productive and geopolitical events, El Salvador will experience significant declines in all liquid fuel prices for the current fortnight. Compared to the reference prices of the previous period, the following variations in derivative products are observed: 6.11% in special gasoline, -6.23% in regular gasoline, -3.24% in diesel and -3.23% in low-sulfur diesel.
 

Prices in dollars Regular Special Diesel
Guatemala 3.17 3.32 3.04
El Salvador 3.16 3.38 3.30
Nicaragua 3.83 3.97 3.69
Honduras 3.66 4.01 3.60
Costa Rica 4.11 4.23 3.65
Panamá* 2.98 3.09 3.02

*Prices from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_November_19th

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Fuel prices tumble on Black Friday

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By a happy coincidence, gasoline prices will tumble on Black Friday, November 23,  reducing the cost of bargain hunting. The Energy Secretariat reports that  91-octane gasoline will drop six cents to 73 cents a liter and 95 octane will drop three cents to 78 cents a liter. Low sulfur diesel will fall four cents to 76 cents a liter.  The changes will be effective until  Friday, December 7
 

https://www.newsroompanama.com/news/panama/__trashed-4

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Central America: Fuel Prices up to December 14th

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.

Monday, December 17, 2018

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. In October and November, Russia has produced 10.8 million barrels per day on average, Saudi Arabia 11.3 million barrels per day on average, while the United States had a record production of 11.75 million barrels per day on average, all which has generated that supply remains higher than current demand affecting lower prices in the world market for hydrocarbons.

Likewise, according to reports provided by the International EnergyAgency (IEA), gasoline reserves increased by 3.05 million barrels, while distillates, such as diesel, increased by 5.00 million barrels, the result of the high refining rate that on average remains at 97%, the highest in 2018. Because of the above, El Salvador benefits from a fourth consecutive fall in fuel prices at the national level.
 

Prices in dollars Regular Special Diesel
Guatemala 2.82 2.98 2.68
El Salvador 2.86 3.06 2.88
Nicaragua 3.38 3.53 3.28
Honduras 3.36 3.72 3.35
Costa Rica 3.94 4.01 3.69
Panama* 2.64 2.77 2.64

*Price taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_December_14th

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Gas prices show little change

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Gasoline prices in Panama will register a slight drop on Friday, December 21. But with plunging oil prices on world markets, there should be a further cut in two weeks.

The 95-octane gasoline will drop a penny a liter and sell for.726 cents a liter.

Meanwhile, the 91 octane will be sold at .697 cents .a liter

Low sulfur diesel will be on sale at. 689 a liter. Today it sells for $ for 69 cents a liter.

The prices will remain in effect until January 4, 2019.

 

https://www.newsroompanama.com/news/panama/gas-prices-show-little-change

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Fuel prices down across the board this week

Posted on January 2, 2019 in Panama

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MOTORISTS  in Panama and Colón. will be able to drive further for less this weekend whether they use high or low octane gasoline or low sulfur diesel as prices drop across the board.  95 octane gasoline, 91 octane gasoline, and diesel will decrease 0.039 cents a liter or 15 cents per gallon)  from 6:00 am Friday, January 4, to  January  18. The 95-octane gasoline will be sold at 68 cents a liter, while the 91-octane will be offered at .658 a liter at gas stations Low sulfur diesel will be sold at 65 cents a liter.
 

https://www.newsroompanama.com/news/panama/fuel-prices-down-across-the-board-2

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Central America: Fuel Prices up to January 2nd

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.

Wednesday, January 2, 2019

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.

The boom of unconventional shale extraction, known as fracking, has allowed the prices of distillates for heating and diesel not to increase their price, according to the latest reports provided by the IEA, despite the winter season in the U.S., the high production of oil and derivatives by this means has benefited prices in international markets because fracking is close to 5.5 million barrels per day, being approximately 46% of total U.S. production at the end of 2018.
 

Price is dollars Regular Special Diesel
Guatemala 2.78 2.94 2.61
El Salvador 2.78 2.97 2.78
Nicaragua 3.35 3.49 3.22
Honduras 3.27 3.62 3.19
Costa Rica 3.94 4.01 3.69
Panama 2.64 2.77 2.64

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_January_2nd

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Central America: Fuel Prices up to January 15th

Price per gallon of regular gasoline: Costa Rica $3.59, Nicaragua $3.21, Honduras $3.20, El Salvador $2.74, Guatemala $2.66 and Panama $2.64.

Monday, January 14, 2019

From the Ministry of Economy of El Salvador report:

The downward trend of the reference prices for the present fortnight is mainly due to the increase of the gasoline reserves and the oil distillates of the United States of America (USA); according to the last report by the IEA, the gasoline reserves increased by 8.1 million barrels per week, the greatest increase in the last 6 weeks; likewise, the reserves of distilled fuels, such as diesel also increased by 10.6 million barrels per week, being the greatest increase in the last 3 weeks.

In addition, it has contributed to the drop in prices, the positive moment experienced by refineries that have an installed capacity of 96.1% in oil processing to obtain as a final result oil derivatives which include gasoline and diesel, together with the record reached by the U.S. for the generation of 11.7 million barrels of oil per week, making it easier for supplies to be well supplied to date, even though at the beginning of January the countries belonging to the Organization of Petroleum Exporting Countries (OPEC), as well as non-member countries, have implemented and complied with the reduction of oil production by 1.2 million barrels daily for the first semester of 2019, causing uncertainty in international prices.
 

Prices in dollars Regular Special Diesel
Guatemala 2,66 2,81 2,49
El Salvador 2,74 2,93 2,77
Nicaragua 3,21 3,34 3,08
Honduras 3,20 3,53 3,08
Costa Rica 3,59 3,68 3,30
Panama* 2,64 2,75 2,61

*Prices takes from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_January_15th

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Gas and diesel prices increase Friday

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THE PRICE of both 95 and 91  octane gasoline will rise two cents a liter on Friday, January 18.  The 95 octane will be sold at 71 cents and  91 at 68 cents. Low sulfur diesel will increase by three cents to 68 cents a liter. The prices will remain in effect until 6 a.m, February 1.
 

https://www.newsroompanama.com/news/panama/gas-and-diesel-prices-increase-friday

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Central America: Fuel Prices up to January 28th

Price per gallon of regular gasoline: Costa Rica $3.64, Nicaragua $3.31, Honduras $3.17, El Salvador $2.78, Guatemala $2.73 and Panama $2.56.

Monday, January 28, 2019

From the Ministry of Economy of El Salvador report:

The upward trend of the reference prices for the present fortnight, follows the agreement to reduce production by 1.2 million barrels per day by the member countries and non-members of the Organization of Petroleum Exporting Countries (OPEC) that began on January 1, 2019, has reverted the downward behavior of the prices of all oil derivatives such as gasoline and diesel, a clear example of the firm compliance of such reduction is Saudi Arabia, the largest producer of the organization, which has assumed most of the reduction to 468,000 barrels per day, also at the end of December 2018 the organization had already reduced an approximate 750,000 barrels per day between crude oil and derivatives, which has impacted on international prices for 2019.

On the other hand, the oil platforms on the coasts of the United States have reported a reduction in production, since at the beginning of January, 873 platforms were active, but for the third week were reduced to 851, a difference of 22 platforms, which significantly affects the upward trends in prices, in addition to the strong speculations of a worldwide decrease in fuel demand for 2019.
 

Prices in dollar Regular Special Diesel
Guatemala 2.73 2.89 2.62
El Salvador 2.78 3.00 2.84
Nicaragua 3.31 3.45 3.23
Honduras 3.17 3.50 3.09
Costa Rica 3.64 3.73 3.34
Panama 2.56 2.68 2.58

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_January_28th

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Gas prices creeping  up

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Posted 31/01/2019
 
The price of gasoline and diesel will edge up on Friday  Feb1. The 95-octane gasoline will increase 016 cents per liter 0.72 cents and  91 octane gasoline will increase 01 cents per liter.687 cents per liter at the pumps in Panama and Colon. In the rest of the country, fuels have a higher price due to freight costs, Diesel,  goes up .026 cents per liter to sell at .708 cents per liter

 

https://www.newsroompanama.com/news/gas-prices-creeping-up

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Gas prices edge up

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Posted 13/02/2019

THE PRICE of  91 and 95 octane gasoline will increase by one cent a liter on Friday, February 15 while the price of low sulfur diesel will remain unchanged. Prices at gas station pump in Colon and Panama will be  .734cents  a  liter and for 91 octanes.695cents. Diesel will be.711 cents a  liter. The new prices will run until Friday, March 1.

 

https://www.newsroompanama.com/business/gas-prices-edge-up

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Central America: Fuel Prices up to February 25

Price per gallon of regular gasoline: Costa Rica $3.50, Nicaragua $3.36, Honduras $3.24, El Salvador $2.82, Guatemala $2.82 and Panama $2.63.

Monday, February 25, 2019

From the Ministry of Economy of El Salvador report:

The increase in fuel prices for this fortnight is because of production factors, according to the latest report provided by the IEA, gasoline reserves showed a weekly reduction of 1.5 million barrels, also distillates such as diesel decreased by 1.4 million barrels per week; these inventory reductions affect the tendency of prices to rise, because there are fewer gasoline and diesel reserves to supply the existing demand in the hydrocarbon market, which generates this effect in the international prices of oil derivatives.

Another of the productive factors affecting international prices is the firm compliance with the agreement of the OPEC countries that decided, at the end of December 2018, to reduce production by 1.2 million barrels a day, to avoid overabundance of reserves in 2019. According to the latest reports provided by experts, the organization has reduced on average 1.1 million barrels per day with an approximate compliance of 92%, these events directly affect world prices, because it generates less supply.
 

Prices in dollars Regular Special Diesel
Guatemala 2,82 2,97 2,74
El Salvador 2,89 3,13 2,97
Nicaragua 3,36 3,52 3,30
Honduras 3,24 3,60 3,22
Costa Rica 3,50 3,59 3,24
Panama* 2,63 2,78 2,69

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_February_25

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Gasoline jumps 4 cents a liter

Posted 28/02/2019

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Both 95 and  91  octane gasoline will increase 4 cents a liter (14 cents a gallon)on Friday, March 1. The 91 octane will be sold at 73 cents per liter Panama and Colon stations while 95 octane will climb to 77 cents. Low sulfur diesel goes up almost 3 cents to 74 cents a liter. The new prices  will remain in effect until March 15.

 

https://www.newsroompanama.com/news/gasoline-jumps-4-cents-a-liter

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Central America: Fuel Prices up to March 11

Price per gallon of regular gasoline: Costa Rica $3.51, Nicaragua $3.51, Honduras $3.31, El Salvador $2.04, Guatemala $2.96 and Panama $2.79.

Monday, March 11, 2019

From the Ministry of Economy of El Salvador report:

The upward trend in fuel prices for the current fortnight is because of reduced reserves of gasoline and distillates such as diesel reported by the IEA. In the last week the decrease in gasoline was 4.2 million barrels, the largest decline recorded in 2019. Also, distillates for heating (Diesel) also recorded a significant reduction of 2.3 million barrels in the week, thus recording its seventh consecutive decline in inventories in 2019.

In addition to the above, there is also the uncertainty that is still maintained by the next meeting of the countries belonging and not belonging to OPEC, who will meet in Vienna, capital of Austria, in April to verify the compliance and continuity of the production cut of 1.2 million barrels of oil per day. This cut has affected the increase in international prices and, according to experts, could be extended until June of this year, generating high expectations and instability in the oil prices and its derivatives.
 

Prices in dollar Regular Special Diesel
Guatemala 2.96 3.11 2.83
El Salvador 3.04 3.28 3.05
Nicaragua 3.51 3.66 3.41
Honduras 3.31 3.66 3.28
Costa Rica 3.51 3.60 3.25
Panama* 2.79 2.92 2.80

*Price taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_March_11

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Gas prices continue upward climb

Posted 27/03/2019

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The cost of driving in Panama continues to rise with 95 octane gasoline set to increase six cents a  liter to 87 cents on Friday,  March 29 while 91 octane gasoline will increase four cents, to 81 cents per liter. Low sulfur diesel drops a cent to 73 cents a  liter.

 

https://www.newsroompanama.com/business/gas-prices-continue-upward-climb

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Central America: Fuel Prices up to April 9

Price per gallon of regular gasoline: Nicaragua $3.81, Costa Rica $3.76, Honduras $3.53, El Salvador $3.36, Guatemala $3.22 and Panama $3.07.

Monday, April 8, 2019

From the Ministry of Economy of El Salvador statement:

The increases in gasoline prices for the current fortnight are largely because of the prolonged fall in gasoline reserves, which add up to 7 consecutive weeks, according to reports provided by the IEA, detailing a reduction of 21.4 million barrels. This decline is equivalent to the one suffered between February and April 2017, which in 10 consecutive weeks reduced 22.9 million barrels, which reflects the marked difference in the increase in prices of regular and higher gasoline.

Likewise, the reserves of distillates for heating oil, from which diesel is also obtained, shows an 8.2-million-barrel drop in reserves in 3 consecutive weeks; however, it does not present great variation like gasoline, because of the change of season and climate in the North American country (from winter to spring) allows prices to be maintained with less variation, due to the transition of consumption from moderate to low quantities, generating less demand.
 

Prices in dollars Regular Special Diesel
Guatemala 3,22 3,38 2,84
El Salvador 3,36 3,64 3,05
Nicaragua 3,81 4,05 3,37
Honduras 3,53 3,93 3,34
Costa Rica 3,76 3,86 3,39
Panama* 3,07 3,28 2,78

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_April_9

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Gas prices continue climb

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Posted 24/04/2019

Gasoline prices in Panama will increase again on Friday, October 26 with 91 octane adding three cents bringing the price at the pumps to 86   cents a liter. The 95 octane will go up two cents to 89 cents per liter. Diesel will add two cents to  76 cents.

 

https://www.newsroompanama.com/business/gas-prices-continue-climb

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Central America: Fuel Prices up to May 6

Price per gallon of regular gasoline: Nicaragua $4.01, Costa Rica $3.80, Honduras $3.70, El Salvador $3.49, Guatemala $3.44 and Panama $3.27.

Monday, May 6, 2019

From the Ministry of Economy of El Salvador statement:

The current reference prices are affected by the continuous decrease suffered in the inventories of gasoline and distillates such as diesel. According to the latest reports provided by the IEA, in April the reduction of gasoline registered an accumulated of 11.9 million barrels and distillates, from which diesel is extracted, registered 4.4 million barrels. This continuity directly affects the prices of oil derivatives, as it generates uncertainty in the markets and investors by observing abrupt drops in reserves and maintaining upward trends in prices.

Similarly, the United States ended the exemptions given to Iran in November 2018, where the U.S. allowed 8 countries (India, Italy, Greece, Japan, South Korea, Turkey, China and Taiwan) to import oil from the country of the Middle East, which was the third largest producer before the sanctions imposed. This brings uncertainty to the world scene, as it would be a drop of approximately 1.4 million barrels per day that would no longer be supplying the existing demand.
 

Prices in dollars Regular Special Diesel
Guatemala 3,44 3,59 2,89
El Salvador 3,49 3,73 3,19
Nicaragua 4,01 4,11 3,48
Honduras 3,70 4,09 3,38
Costa Rica 3,80 3,91 3,42
Panama* 3,27 3,38 2,87

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_May_6

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Gasoline prices fall Friday

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Posted 08/05/2019

After several weeks of continual increase, gasoline prices will fall on Friday, May 10 says  Panama’s Energy Secretariat. 95 octane gasoline decreases more than 2 cents to .869 a liter while 91 octane drops by more than one cent to .848 cents a liter.. Diesel will not change.

 

https://www.newsroompanama.com/business/gasoline-prices-fall-friday

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Central America: Fuel Prices up to May 20

Price per gallon of regular gasoline: Costa Rica $4.26, Nicaragua $3.89, Honduras $3.72, El Salvador $3.42, Guatemala $3.38 and Panama $3.29.

Monday, May 20, 2019

From the Ministry of Economy of El Salvador statement:

The current reference prices reflect a downward trend, because during the first weeks of May, reserves of gasoline and distillates show minimal reductions, this has allowed prices to be more stable compared to the previous month, since the first half of May gasoline reported a 790,000-barrel decrease, while in April for the first half reported a 10.6-million-barrel reduction. Regarding diesel distillates, during the first fortnight of May a 1.4-million-barrel decrease was reported, while for the first fortnight of April it was 2.5 million barrels, a less marked difference, which affects the price of low-sulfur diesel for the next fortnight.

The pressure generated by the trade war between China and the United States, the world's largest consumers of oil and oil products, responsible for 34% of global oil consumption in the first quarter of 2019, according to data from the IEA, is because the U.S. announced that from May will raise tariffs from 10% to 25% to Chinese products worth 200 billion dollars, a measure already implemented at the end of 2018 and was paralyzed by a truce for both countries to conduct trade negotiations. This generated that the international market of oil and derivatives showed caution and fluctuations in prices, marking a downward trend especially in gasoline.
 

Dollar prices Regular Special Diesel
Guatemala 3,38 3,53 2,86
El Salvador 3,42 3,63 3,18
Nicaragua 3,89 3,98 3,45
Honduras 3,72 4,08 3,40
Costa Rica 4,26 4,40 3,61
Panama 3,21 3,29 2,87

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_May_20

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Gasoline prices continue fall

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Posted 22/05/2019

Gasoline prices will fall two cents a liter on Friday, May 24.  The 95-octane gasoline will drop to .85 cents per liter at the pumps and 91 octane gasoline will be .83 cents per liter. Diesel will remain at 76 cents. The prices will be effective until June 7.

 

https://www.newsroompanama.com/news/gasoline-prices-continue-fall

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Panama gas prices continue downward trend

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Posted 05/06/2019

The price of both 95 and 91 octane gas will fall by 3 cents a liter in Panama and Colon on Friday, June 7. The 95-octane  will be sold at . 819 cents per liter, the 91-octane  at .80 cents per liter and low sulfur diesel will be cut  4 cents a liter to .719 cents.

 

https://www.newsroompanama.com/news/panama-gas-prices-continue-downward-trend

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