The General Directorate of Energy, Hydrocarbons and Mines (DGEHM) announced on Monday, September 30 about the new reference prices of fuels in El Salvador, which record a new decrease of up to $0.14 per gallon in gasoline and up to $0.08 per gallon in diesel.
The new reference prices will be effective from this Tuesday 1st until next Monday, October 14, DGEHM indicated.
The price per gallon of special gasoline will drop up to $0.14 throughout the country and the new reference prices will be $3.65 for the central zone, $3.66 for the western zone and $3.70 for the eastern zone.
The gallon of regular gasoline will drop up to $0.11 in the center and east, while in the west it will drop $0.10. The new reference prices for regular will be $3.64 for the central area, $365 for the western area and $3.68 for the eastern area.
The gallon of diesel, for its part, will drop up to $0.08 throughout the country. The reference prices will be $3.37 for the center, $3.38 for the west and $3.41 for the east.
The DGEHM highlighted that this is the fifth consecutive decrease of the reference prices of fuels for El Salvador and that this reduction in prices is due to the announcement that Saudi Arabia will increase its oil production for December 2024. Also, Libya is managing the reactivation of its oil production, which could go up to 1.15 million daily barrels, after a drop in production by 500,000 daily barrels between August and September.
Lastly, another reason for the reduction in reference prices for fuels is the decrease in oil demand that China has been experiencing in recent months, which has helped to relieve international prices.
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