The government announces a hike of up to $ 0.17 in fuel prices starting this week
This is the seventh increase in fuel prices recorded so far this year. The increase is attributed to the high demand for oil and the production cut agreed upon by OPEC.
There is no good news for motorists this week. On Monday, the Economy Ministry announced that gasoline and diesel will see a massive increase of $ 0.17 per gallon at service stations.
It is the seventh consecutive increase in fuel prices recorded so far this year, which is already beginning to affect sectors such as taxi drivers and formal and informal freight transportation.
And according to the new reference prices that will be in effect from Tuesday, premium gasoline will rise $ 0.17 a gallon In the central and western regions of the country, while it will increase in the eastern region $ 0.16 a gallon.
Regular gasoline will increase $ 0.17 a gallon In the central and western regions of the country, in the eastern region it will increase $ 0.16 a gallon Low sulfur diesel will increase $ 0.08 a gallon In the central region of the country, in the western and eastern regions it will increase $ 0.07 a gallon.
With these new prices, a gallon of private gasoline will rise to $ 3.60 in the central region, $ 3.61 in the western region, and $ 3.64 in the eastern region.
15 days ago, the increase per gallon was $ 0.20.
Other prices per gallon of regular gasoline and diesel are also between $ 2.98 and $ 3.47, maximum.
According to economics, the rise is mainly due to three factors:
* Generalized losses during the month of March in the strategic reserves of petroleum derivatives, according to the International Energy Agency (IEA).
* The Organization of the Petroleum Exporting Countries (OPEC) expects growth in demand for oil and its derivatives.
* Losses in the purchasing power of the dollar against other currencies.
According to the economics, the prices that are published He suggested Service stations are constructed by supply and demand. In El Salvador, liquid fuel prices are liberalized.