Tuesday, 11 June 2024 04:17

Fuel price reductions continue to be implemented

Written by Denis Muñoz
Fuel price reductions continue to be implemented Courtesy

The Dirección de Energía, Hidrocarburos y Minas announced a new decrease in fuel prices, these new costs will be effective from june 11 to 24, 2024, the reduction ranges between US$0.06 and US$0.15.

According to the institution, the price of a gallon of premium gasoline will be US$4.24 in the central zone; US$4.25 in the western zone, and US$4.29 in the eastern zone, presenting a reduction in prices of US$0.14 to US$0.15 with respect to the previous fortnight.

Meanwhile, the cost of a gallon of regular gasoline will drop to US$4.01 in the central zone; US$4.02 in the western zone and US$4.05 in the eastern zone of the country, with a decrease of US$0.12.

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Diesel will decrease between $0.06 and $0.07, so the reference price for this fortnight will be $3.65 in the center of the country; $3.66 in the west and $3.69 in the east of El Salvador.

According to the Dirección de Energía, Hidrocarburos y Minas, this price drop is attributed to the fact that the International Energy Agency (IEA) reported an increase in gasoline and diesel reserves at the end of May, maintaining a downward trend in the international prices of these oil derivatives.

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Likewise, the Organization of Petroleum Exporting Countries (OPEC) reported an increase in its oil production for the month of May, specifically from Iraq and Nigeria, increasing the supply of oil and its derivatives in the international market, which resulted in a decrease in the prices of hydrocarbons at a global level.

 

 

Translated by: A.M