Wednesday 28 September 2022

Costa Rica Continues With Highest Gasoline Prices In The Region

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28 September 2022 - At The Banks - BCCR

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The latest request by Recope could see a drop in gasoline prices before the end of the month

Q COSTA RICA – The volatility of international prices of fuels in the oil market persists, being the main factor affecting prices in Central America.

Despite the instability of oil prices and their fluctuations are permanent factors, predictions about future prices is unpredictable, however, in the recent weeks trends in international prices have been caused by a several events:

  • Iran has discovered new oil reserves amounting to several million barrels.
  • Oil prices also deepened their losses amid dollar strength due to signs that US energy firms increased the number of platforms for the thirteenth week.
  • Effects of OPEC agreements continue to drag on, causing the oil market to be prone to show unexpected changes.
  • The performance of fracking (unconventional oil extraction) in the United States.

Having said that, following are fuel prices at the pumps in Central America. For comparison, the prices are quoted in US dollars per US gallon, up to February 13, 2017.

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(Regular, Super, Diesel)
El Salvador: US$2,86, US$3.06, US$2.53
Guatemala:US$2.89, US$3.10, US$2.41
Honduras: US$3.43,US$3.78, US$302
Nicaragua: US$3.47, US$3.60, US$303
Costa Rica: US$3.94, US$4.14, US$3,27
Panama*: US$2.70, US$2.84, US$2.35

* Data taken from Acodeco.gob.pa

Source: Centralamericandata.com

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