Friday, 04 February 2022 17:24

Fuel prices to rise sharply next fortnight

Written by Evelyn Alas

Fuel expert, Julio Villagrán, informs salvadorans that for next monday, february 8, fuel prices will present a possible increase of US$0.15 per gallon in premium gasoline, regular and diesel.

Villagrán, points out that this is the third increase of the year, but this is also due to the fact that the price of a barrel of oil is reaching US$90, he also indicated that for the first semester of 2022 new increases are expected that could affect the consumers' pockets.

Likewise, a Spanish media, indicated that gasoline prices have just beaten their own record, which had been in force for more than nine years, driven by the rise in oil prices, which are at levels not seen since 2014 due to the recovery of demand and its limited production.

The price of Texas Intermediate Crude Oil (WTI), started with a 0.74 % decrease.

The Organization of Petroleum Exporting Countries (OPEC), agreed to maintain its roadmap -with an increase of 400 thousand barrels per day in march- despite pressure to open the taps further given that crude oil prices are at maximum levels since 2014.