Thursday, 17 August 2023 03:20

Carriers expect an increase in freight rates due to higher fuel prices

Written by Evelyn Alas

The President of the Asociación Salvadoreña de Transportistas Internacionales de Carga (ASTIC), Raúl Alfaro, explained in a radio interview that projections for fuel prices for next week are for a possible increase of US$0.28 per gallon.

This increase, according to the ASTIC President, could lead to an increase in the price of freight. This is the cost to pay for the movement of a load in a means of land transportation from El Salvador to another country in the region.

19 sorprendentes datos de la gasolina

He said that the cost of freight depends 40% on the price of fuel, currently a well-paid rate with a full truckload to Costa Rica is US$1,400.

According to international media, oil prices declined on wednesday despite a sharp drop in U.S. stockpiles, as investors weighed concerns about China's difficult economic situation and expectations of a reduction in supply in the North American country.

Gasolina precio: Esta es la razón por la que a pesar del superpeso, el  combustible será más caro | El Informador

Brent crude futures gave up US$1.44 dollars, or 1.7%, to US$83.45 a barrel; while West Texas Intermediate in the United States (WTI) subtracted US$1.61, or 2%, to US$79.38.

Both benchmarks fell more than 1% in the previous session and reached their lowest level since august 8.

Economía en Jalisco: Alcanza la gasolina regular hasta los 24.10 pesos por  litro | El Informador

U.S. crude oil and gasoline inventories decreased last week, while distillate stocks increased, data from the Energy Information Administration showed.


Translated by: A.M