Strong rise in fuel prices this November 15

Fuels will experience a sharp increase in their price, according to sources from the oil sector. The variation will take effect from zero hours on Sunday, November 15. Super gasoline and diesel are the ones that will increase in price the most.

From zero hours on Sunday, November 15, the liter of super gasoline will rise 0.82 cordobas; regular gasoline will add 0.79 cordobas per liter at its current price; and diesel will get more expensive in 0.81 córdobas per liter.

That is to say that per gallon the super will rise 3.10 cordobas; the regular will rise 2.99 cordobas; and diesel will increase 3.06 cordobas.

With this, the liter of super gasoline will go from 28.25 córdobas to 29.07 cordobas, that is, 110.03 cordobas per gallon.

Regular gasoline will go from 27.74 córdobas per liter to 28.53 cordobas, equivalent to 107.99 cordobas per gallon.

And diesel will move from 24.24 córdobas to 25.05 cordobas per liter, that is 94.81 cordobas per gallon containing 3.785 liters. All these price estimates are valid for Managua because other distribution costs are incorporated in the interior of the country.

According to INE records and without incorporating the trend of this Sunday, of the 46 weeks that go in this year 2020, due to fluctuations in the international reference prices of these products, there have been twenty-two increases and twenty-four decreases in regular gasoline ; in super gasoline eighteen increases and twenty-eight decreases; in diesel, twenty-three increases and twenty-three losses and in kerosene, nineteen increases and twenty-six losses.

Read also: Almost a year after the sanctions against DNP and Zanzibar, what has happened to fuel prices?

Oil prices lost ground on Friday, the day after disappointing data on demand was released after the euphoria generated earlier in the week by the promising results of a possible vaccine against COVID-19.

A barrel of North Sea Brent for January delivery fell 1.72 percent to $ 42.78. In New York, a US barrel of WTI for December fell 2.41 percent to $ 40.13.

“Cases of coronavirus infections continue to increase and containment measures are being put in place again,” lamented Stephen Brennock, from PVM, “so it is not surprising that the IEA, for example, has reduced its short-term prospects term relative to world oil demand. ‘

In its latest monthly report released on Thursday, the International Energy Agency (IEA) significantly lowered its forecasts for global demand this year due to the second wave of covid-19 affecting Europe and the United States.

In another grim signal for demand, which investors were digesting on Friday, the United States‘ Energy Information Agency (EIA) reported Thursday that commercial crude oil reserves rose 4.3 million barrels (MB) as of November 6 in the United States. , standing at 488.7 MB.

Read also: The United States sanctions Rafael Ortega Murillo, DNP Petronic, El Goliat and Inversiones Zanzíbar

The experts consulted by the Bloomberg agency had predicted an average decrease of 1.9 MB.

This surprise increase raises fears of an excess supply in a market already burdened by the slowdown in consumption due to the worsening of the pandemic and the decrease in travel.

However, throughout the week the two benchmark contracts increased more than 8 percent. Prices had jumped on Monday after the announcement by US laboratories Pfizer and German BioNTech that their candidate vaccine was “90 percent effective” against covid-19.

.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.