According to international media, more than 200 vessels are trapped on both sides of the Panama Canal due to a serious drought that cuts off crossings. Because of this, it is estimated that the prices of fuel and other products that must cross the channel to reach their destinations have increased.
Due to the lack of rain, the Canal restricted the draft of the vessels, which will cause a decrease of $200 million in its income in 2024. Meanwhile, the projection for this year is estimated at $4.9 billion, indicated the Canal administrator. Ricaurte Vasquez.
Consequently, prices in El Salvador have experienced increases due to this and other international factors. The General Directorate of Energy, Hydrocarbons and Mines (DGEHM) indicated that the International Energy Agency (IEA) and the American Petroleum Institute (API) announced in their weekly reports, falls in United States oil reserves, increasing thus the international prices of hydrocarbons.
Additionally, the closure of refineries for maintenance in the United States and Canada stands out, affecting supplies in the region, increasing the international prices of gasoline and diesel fuel oil. Added to this are cuts in production in Saudi Arabia and Russia, which maintain increases in prices in the international hydrocarbon market.
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