Saturday 25 June 2022

El Salvador maintains the lowest fuel prices in the region

These prices have been maintained since last April 5.

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Q24N – The Government of President Nayib Bukele continues with the economic and fiscal sacrifice of keeping the price of fuels frozen to continue protecting the pockets of Salvadorans against the escalation of the international cost of oil and its derivatives, which continues to hit the world economy.

By order of the President, the Government will continue to absorb the average increase of US$2.05 per gallon of super gasoline; US$1.71 for regular and US$1.31 for diesel between June 14 and 27, according to the Ministry of Economy.

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Despite these increases, Salvadorans continue to pay US$4.31 for super gasoline in the central and western zones and US$4.32 in the east; while regular gasoline costs US$4.15 throughout the country and diesel US$4.14 nationwide.

These prices have been maintained since last April 5, when the new Legislative Assembly approved the Temporary Law to Set Maximum Fuel Prices, at the request of President Bukele.

The decree, which was extended until August 31, establishes the temporary suspension of the Stabilization and Economic Development Fund (FEFE), as well as the Special Contribution to Public Transport (COTRANS).

In this context, the President published a comparative graph of the price of a gallon of regular gasoline among the countries of the region and highlighted: “Without being an oil-producing country, El Salvador has the cheapest gasoline in Central America.”

 

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The graph shows that a gallon of regular gasoline in El Salvador costs US$4.15 while in Costa Rica it costs US$5.62, in Panama and Honduras the price is US$5.06, in Nicaragua US$5.05 and in Guatemala US$5.01.

For her part, the Minister of Economy, María Luisa Hayem, highlighted: “If the Government of President Nayib Bukele had not launched all these measures, Salvadorans would be paying up to US$6.40 per gallon.” Likewise, she explained that a family could save around US$50 per month “thanks to the measures of the Government of President Nayib Bukele.”

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Q24N
Q24N is an aggregator of news for Latin America. Reports from Mexico to the tip of Chile and Caribbean are sourced for our readers to find all their Latin America news in one place.

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