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

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Panama: Gasoline Consumption Falls 5%

From January to October 2019, 949 million gallons of fuel were sold, and the demand for 91-octane gasoline decreased 5% over the same period in 2018.

Wednesday, December 4, 2019

The figures of the General Comptroller of the Republic report that during the first ten months of 2019 the consumption of gasoline in the country, which includes the 91 and 95 octane, amounted to 281 million gallons, 3% more than in the same period last year.

You may be interested in "Petroleum Oils: Imports up to September 2018"

Demand for low-sulphur diesel also increased for the periods in question, from 306 million to 310 million gallons. In the case of Bunker C, consumption grew by 13%, from 54 million gallons to 61 million gallons.

The consumption of liquefied petroleum gas including butane and propane reported a slight increase of 1%, rising from 80.1 million gallons from January to July 2018 to 81.1 million gallons in the same period in 2019.

See full report (in Spanish).

 

https://www.centralamericadata.com/en/article/main/Panama_Gasoline_Consumption_Falls_5

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Central America: Fuel Prices up to December 16

Price of a gallon of regular gasoline: Costa Rica $ 4.07, Nicaragua $ 3.52, Honduras $ 3.45, El Salvador $ 3.04, Guatemala $ 3.02 and Panama, $ 2.83.

Monday, December 16, 2019

From the Ministry of Economy of El Salvador:

The current reference prices present their second combined variation for gasoline and diesel; this trend is the result of the increase in gasoline and distillate reserves. The IEA reported, in the last two weeks, an 8.79-million-barrel increase for gasoline. Likewise, the distillates from which diesel is derived reported a 7.18-million-barrel increase, generating a mixed fluctuation in the international prices of hydrocarbons.

Additionally, OPEC met last December 5 and 6 in Vienna, Austria, where they established an additional cut of 500,000 barrels to the 1.2 million that were in force since the beginning of 2019, thus reaching a total reduction of 1.7 million barrels per day and will be re-evaluated until March 2020. This generated that the prices in the international market presented mixed tendencies throughout the week following that meeting.
 

Prices in USD Regular Special  Diesel
Guatemala  3,02 3,15 2,70
El Salvador 3,04 3,26 2,97
Nicaragua 3,52 3,68 3,31
Honduras 3,45 3,83 3,22
Costa Rica 4,07 4,17 3,60
Panama* 2,83 2,98 2,68

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_December_16

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Panama gasoline prices climb Friday

gas.jpg

Posted 02/01/2020

The price of both 95  and 91 octane gasoline will go up 3 cents a liter on Friday January.3 The  95 octane will retail at .81 cents per liter and 91 octane will be 77 cents per liter. Low sulfur diesel will increase by two cents to 74 cents per liter. The changes will be effective until 5:59 am, Friday, January 17.

 

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

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Central America: Fuel Prices at the Beginning of 2020

Price per gallon of regular gasoline: Costa Rica $4.11, Nicaragua $3.57, Honduras $3.46, Guatemala $3.09, El Salvador $3.07 and Panama, $2.85

Monday, January 6, 2020

From the Ministry of Economy of El Salvador's statement:

The current reference prices show increases in all their presentations, because of the announcement given by the United States and China, about the signing of phase 1 of the economic conflict in January 2020. After 17 months of negotiations, this agreement establishes the reduction of tariffs on raw materials and products between both countries, where oil and its derivatives are benefited; therefore, the expectations of demand for all fuels at the international level increased, increasing international prices.

In addition, the IEA reported that oil reserves in the last two weeks decreased by 6.56 million barrels, which impacted international prices, also, the existence of gasoline only increased 1.96 million barrels in the last week and diesel presented a fall of 152 thousand barrels per week, so prices rose until the end of the week of December 27.
 

Prices in USD Regular Special Diesel
Guatemala 3,09 3,22 2,79
El Salvador 3,07 3,28 3,03
Nicaragua 3,57 3,72 3,34
Honduras 3,46 3,82 3,24
Costa Rica 4,11 4,21 3,64
Panama* 2,85 3,00 2,70

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_at_the_Beginning_of_2020

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Central America: Fuel Prices up to January 14

Price per gallon of regular gasoline: Costa Rica $4.07, Nicaragua $3.52, Honduras $3.45, El Salvador $3.04, Guatemala $3.02 and Panama $2.83

Monday, January 13, 2020

From the Ministry of Economy of El Salvador's statement:

The current reference prices for gasoline and diesel present generalized increases, due to the recent geopolitical conflicts between the United States and Iran during the first weeks of January 2020, which is why the international prices of oil and derivatives increased by an average of 4%.

This situation also generated uncertainty among investors and producers due to the latent threat to world supplies, since the Arab country could block the sea route of the Strait of Hormuz, which serves as an outlet for oil ships in the open sea and allows the region's oil to be brought to markets in Asia, Europe and North America, stopping approximately 30% of world production.
 

Prices in USD Regular Special Diesel
Guatemala 3,15 3,28 2,84
El Salvador 3,13 3,36 3,08
Nicaragua 3,69 3,89 3,43
Honduras 3,49 3,85 3,28
Costa Rica 4,09 4,19 3,62
Panamá* 2,85 3,00 2,70

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_January_14

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Fuel prices down on Friday

FC121C03-0ED3-46C6-ADF9-47C64B461449.jpeg

Posted 15/01/2020

The Energy Secretariat has announced that the price of all fuels will fall one cent a liter on Friday, January 17 bringing 95 octane to 81 cents and 91 tanes to 77 cents. Low sulfur diesel will drop to 73 cents a liter. The changes will be effective until 5:59 am, Friday, January 31.

 

 

https://www.newsroompanama.com/business/fuel-prices-down-on-friday

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Central America: Fuel Prices up to January 28

Price per gallon of regular gasoline: Costa Rica $4.07, Nicaragua $3.52, Honduras $3.45, El Salvador $3.04, Guatemala $3.02 and Panama, $2.83

Monday, January 27, 2020

From a statement by the Ministry of Economy of El Salvador:

The current reference prices for gasoline and diesel, show low prices at national level, due to the outcome of the conflict between the United States and Iran, where the Arab country attacked two military bases located in Iraqi territory. After that, the probability of a war between both nations was dissipated before the response of the North American country, which decided to implement economic sanctions to the oil, steel production, iron and copper of the Iranian country.

Likewise, the IEA reported that during the last two weeks, gasoline reserves presented a substantial increase of 8.42 million barrels. Similarly, diesel reserves reported a growth of 6.99 million barrels in the same period, allowing tranquility in the market to a short-term forecast.
 

Prices in USD Regular Special Diesel
Guatemala 3,16 3,29 2,82
El Salvador 3,07 3,30 2,96
Nicaragua 3,59 3,74 3,33
Honduras 3,56 3,92 3,33
Costa Rica 4,01 4,14 3,60
Panamá* 2,93 3,07 2,81

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_January_28

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Gas prices set to tumble

gas.jpg

Posted 29/01/2020

Fuel prices will decrease across the board on Friday  January 31.  95 octane gasoline will drop three cents to  .77 cents a liter while 91 octane fall  two cents, to 74 cents per liter. Low sulfur diesel will lower its cost by five cents, to 68 cents a liter. Prices will apply until February 14.

 

https://www.newsroompanama.com/business/gas-prices-set-to-tumble

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With the coronavirus severely impacting travel to and within China, there will be increased downward pressure on oil prices.  Supply and demand is what sets prices, and demand is dropping.

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Gasoline Consumption Up 3% in 2019

In Panama, 1.128 million gallons of fuel were sold during 2019, and the demand for gasoline grew by 3% in relation to what was reported in 2018.

Tuesday, February 4, 2020

The Genera Comptroller of the Republic reported that during 2019 gasoline consumption in the country, which includes 91 and 95 octane gasoline, reached 339 million gallons, 3% more than the 330 million gallons registered in 2018.

Demand for low-sulphur diesel also increased for the years in question, rising from 366 million to 369 million gallons. In the case of Bunker C, consumption grew by 11%, from 60 million to 66 million gallons.

Consumption of liquefied petroleum gas, which includes butane and propane, did not change significantly.

See full report (in Spanish).


https://www.centralamericadata.com/en/article/main/Gasoline_Consumption_Up_3_in_2019

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Central America: Fuel Prices up to February 11

Price per gallon of regular gasoline: Costa Rica $4.08, Nicaragua $3.52, Honduras $3.51, El Salvador $2.96, Guatemala $2.96 and Panama $2.81.

Monday, February 10, 2020

From a statement by the Ministry of Economy of El Salvador:

The current reference prices for gasoline and diesel show a marked decline at the national level, which reflects the emergency experienced by China because of the coronavirus. The Asian country is the largest buyer of oil and derivatives in the world, and has currently cut its imports by 3 million barrels per day, approximately 17% to 20% below the usual level for this time of year, where they import a total of between 12 and 14 million barrels per day. This sharp drop is the result of the paralysis of cities, transport and industry due to the virus, which generates an overabundance in the world's supply of oil and derivatives.

Also, the IEA reported in its weekly report slight falls in gasoline and diesel reserves. In the last week, gasoline decreased by 91 thousand barrels, while diesel decreased by 1.5 million barrels. However, international prices did not tend to rise, because of the global overabundance generated by the coronavirus health emergency. Additionally, it was reported that oil reserves increased by 3.3 million barrels, which provides stability to the derivatives market ensuring raw material for the generation of the same.
 

Prices in USD Regular Special Diesel
Guatemala 2,96 3,09 2,49
El Salvador 2,96 3,18 2,77
Nicaragua 3,52 3,66 3,20
Honduras 3,51 3,88 3,24
Costa Rica 4,08 4,22 3,67
Panama* 2,81 2,93 2,59

*Prices taken from Acodeco.gob.pa

 

https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_February_11_1

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China will probably cut imports even further as more cities are quarantined.  It has even cancelled flights between Shanghai and Beijing. 

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Fuel prices down for Valentine’s Day and Carnival

gasj.jpeg

Posted 12/02/2020

Motorists will get Valentine’s gift on Friday with the second consecutive  cut  in  the price of  motor fuels

.95 octane gasoline will decrease 2 cents a liter while 91 octanes will drop 3 cents  Diesel will decrease 4 cents a liter . The prices remain in effect  until February 28, benefitting drivers heading to carnival celebrations in the interior.

 

https://www.newsroompanama.com/business/fuel-prices-down-for-valentines-day-and-carnival

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Central America: Fuel Prices up to February 25

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.

Monday, February 24, 2020

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. The reserves for gasoline have reduced 2.16 million barrels, likewise for diesel, its reserves have decreased 4.16 million barrels, along with a lack of oil production, which in its last week barely paid to its reserves 414 thousand barrels, causing international prices to fluctuate.

In addition, the internal conflict in Libya in the Middle East has collapsed its production by an estimated 85%, since from producing 1.3 million barrels per day, it has reduced to 190 thousand barrels per day, a little more than 1 million that are not being injected into the world supply, because of the blockade of oil fields and terminals. Also adding to world events, an attack on a dock (an artificially protected part of the currents, so that ships can anchor or load and unload comfortably) in Tripoli, the capital of the Arab country, caused great damage and forced the evacuation of oil tankers that were docked there. The above event has generated uncertainty in the international markets and prices of hydrocarbons.
 

Prices in USD Regular Special Diesel
Guatemala 2,92 3,05 2,40
El Salvador 2,95 3,18 2,69
Nicaragua 3,51 3,66 3,17
Honduras 3,39 3,75 3,06
Costa Rica 4,10 4,25 3,69
Panama* 2,81 2,93 2,59

*Prices taken from Acodeco.gob.pa


https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_February_25_1

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Fuel prices increase on February 28

A3C74440-F292-49A9-953C-459D98A304AB.jpeg

Posted 27/02/2020

Fuel prices will rise on Friday, February 28 with 95-octane gasoline up to three cents to 78 cents per liter and, 91 octane gasoline will also rise  three cents, to.74 cents per liter. Low sulfur diesel will increase its one cent to 65 cents a   liter. The prices will are valid until March 13.

 

https://www.newsroompanama.com/business/fuel-prices-increase-on-february-28

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Fuel Consumption Starts 2020 Downwards

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.

Tuesday, March 3, 2020

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.

You may be interested in "Crude Oil: Purchases Exceed $5 Billion"
 
Demand for low-sulphur diesel also declined for the periods in question, from 33.3 million to 29.5 million gallons. In the case of Bunker C, consumption decreased by 39 per cent, from 4.4 million to 2.7 million gallons.

Consumption of liquefied petroleum gas, which includes butane and propane, rose by only 1.3 per cent.

See full report (in Spanish).

 

https://www.centralamericadata.com/en/article/main/Fuel_Consumption_Starts_2020_Downwards

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Central America: Fuel Prices up to March 10

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.

Monday, March 9, 2020

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. The first report for March provided by the IEA, revealed that gasoline reserves decreased by 4.34 million barrels per week, in the same way, diesel decreased by 4 million barrels. Despite the decline in these products, prices have not increased exponentially, as crude oil reserves continue to rise, providing stability of raw material for refining.

Likewise, OPEC announced on March 6 that no agreement was reached between member countries led by Saudi Arabia and non-members led by Russia, on implementing a new cut of 1.5 million barrels per day, which was sought to be established until June 2020, where the countries belonging to the organization would be responsible for reducing 1 million barrels per day and the remaining would be done by non-members. The above, generated that international prices in the first week of March were fluctuating, because expectations among investors and producers remained cautious, since that agreement sought to generate increase in world prices of oil and its derivatives.

Prices in USD Regular Special Diesel
Guatemala 2,99 3,13 2,39
El Salvador 2,98 3,20 2,65
Nicaragua 3,61 3,76 3,14
Honduras 3,39 3,74 2,99
Costa Rica 3,82 3,97 3,26
Panama* 2,81 2,96 2,46

*Prices taken from Acodeco.gob.pa


https://www.centralamericadata.com/en/article/main/Central_America_Fuel_Prices_up_to_March_10

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Fuel prices plunge on Friday 13th

gasolne.jpg

Posted 11/03/2020

Fuel prices fall across the country on  Friday, March 13, following the dramatic plunge in the cost of oil due to the price war between producers and the decrease in consumption by China due to the new coronavirus. 95 octane gasoline will drop 5  cents a liter to 72 cents in the cities of Panama and Colon 91 octane gasoline will drop 6 cents  to sell at 68 cents  a liter Low-sulfur diesel will have a drop of 5 cents a  liter r to sell for 59 cents a liter. The new prices become effective on Friday, March 13 and will remain in place for two weeks.

 

https://www.newsroompanama.com/business/fuel-prices-plunge-on-friday-13th

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FUEL PRICES  TO DROP 25% this week

rojas.jpg

Posted 17/03/2020

Panama fuel prices  will drop by 25% this weekend  and a cut of about 5%  in electricity prices will follow said Minister-Counselor for the Facilitation of Private Investment, José Alejandro Rojas  on Wednesday, March 18

Rojas said that the adjustment periods were reduced from 15 days to a week, which would help with the economic situation that the coronavirus has generated.

" As for the energy sector, we anticipate a reduction in the customer bill that is around 5%, " said  the Minister

 

https://www.newsroompanama.com/business/fuel-prices-to-drop-25-this-week

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Fuel prices plunge

fuel2.jpg

Posted 25/03/2020

Starting Friday March 27 both 95 and 91 octane gasoline will drop 0.19 cents to 0.57 cents per liter. At the pumps 95 octane will be 57 cents a liter and 91 octane 49 cents; Low sulfur diesel will drop by 10 cents, to .50 cents per liter. The prices will remain in effect until April 3.

 

https://www.newsroompanama.com/business/fuel-prices-plunge

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Litro de gasolina a menos de 50 centésimos

Es la segunda baja drástica de los precios de los combustibles debido a la caída del precio del petróleo en los mercados internacionales.
 
 Wilfredo Jordán 
03 abr 2020 - 12:00 AM

https://www.prensa.com/economia/litro-de-gasolina-a-menos-de-50-centesimos/

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Fuel prices continue downward plunge

gas.jpg

Posted 03/04/2020

The price war between oil-producing countries and decreased demand caused by the coronavirus brought the price of a liter of gasoline to fall 10%  leaving 95 octane at  46 cents a liter and 91 octanes to 44 cents on Friday. April 3 while low sulfur  diesel which fell only 3%  will be, for the first time more expensive  at 48 cents  a liter

 

https://www.newsroompanama.com/business/fuel-prices-continue-downward-plunge

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Leve baja en los combustibles desde el viernes

La SNE anunció que a partir de la fecha retoma el mecanismo de anunciar los precios de los combustibles cada 14 días, en lugar de cada 7 días.
 
Wilfredo Jordán
22 abr 2020 - 04:52 PM

https://www.prensa.com/economia/leve-baja-en-los-combustibles-desde-el-viernes/

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