Monday, 15 May 2023 17:45

Salvadorans will pay less for a gallon of gasoline!

Written by Evelyn Alas

The Dirección de Energía, Hidrocarburos y Minas (DGEHM), informs salvadorans the new fuel prices that present a decrease between US$0.29 and US$0.18 for premium gasoline, regular and diesel, effective from May 16 to 29.

For the central zone, premium gasoline will cost US$4.42, regular gasoline US$4.12 and diesel US$3.65.

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Salvadorans who purchase premium gasoline in the western zone will pay US$4.43, regular gasoline US$4.13 and diesel US$3.65 per gallon.

Likewise, those who travel in the eastern zone will pay US$4.46 per gallon for super gasoline, US$4.17 per gallon for regular gasoline and US$3.69 per gallon for diesel.

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According to the institution, this is due to the fact that in its last report the International Energy Agency (IEA) reported an increase in crude oil reserves in the United States, which alerted to a reduction in the international prices of oil derivatives.

In addition, China increased its economic pace, contributing to the drop in international oil prices.  Also, the economic crisis in the United States, which requires the demand for more hydrocarbons.

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According to international media, a barrel of Brent crude is quoted at US$74.17, while the West Texas Intermediate is at US$70.04. The figures correspond to the may 12 closing update of Oil Price Charts, a famous website with more than 150 crude oil indexes and blends at a global level.

On a weekly basis, both benchmarks retreated around 1.5 percent, according to Reuters; adding to the previous week's drop, when Brent had a 5.3 percent decline, while the U.S. equivalent, WTI, lost 7.1 percent.

 

Translated by: A.M