11192017Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 4 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 4 years ago
Was Your Costa Rican Bank Account Closed? 4 years ago
Latin America Investment News on Viva Tropical

Fuel Costs Burning Up Cash in Honduras

Article Summary:

The fall of the Lempira against the dollar and rising international oil prices are spiking the fuel costs in Honduras; as a gallon of gasoline is quickly approaching and will most likely overcome the psychological barrier of 100 lempiras.

Photo Credit: La Prensa Honduras

Original Article Text From La Prensa Honduras via Google Translate :

Honduras is paying $ 0.20 per Gallon L100

The fuel prices continue to move against thousands of motorists Hondurans and other sectors that rely on fuel to operate.

The devaluation of the Lempira against the dollar and rising international oil prices are factors that influence the price of a gallon of gasoline can in the short term approach and overcome the psychological barrier of 100 lempiras.

For UnoPetrol manager, Fernando Ceballos, lempira slippage against the dollar is a factor that must be analyzed carefully because it contributes to the price of fuel is more expensive. It now takes more lempiras to buy a gallon of gasoline in the international market.

The exchange rate was maintained for about six years about 19.2 lempiras to the dollar, but in late July 2011, the BCH (Central Bank of Honduras) left the exchange rate according to the disposition of foreign currency in the local market.

The price of the currency to Friday 2 March this year is 19.34, for a loss of 32 cents of Lempira on the July 23, 2011.

Ceballos said the price of a gallon of gasoline is trading at just over 3.30 per gallon and for the local consumers to pay 100 lempiras should cost up to $ 3.50.

The international price of gasoline is added the cost of international freight, insurance, net importer and retailer, and local freight and taxes levied by the Government.

International Upgrades
Ceballos said the other variable to be monitored is the rising international price of fuel. “Both the crude and diesel prices have had a more stable, whereas gasoline remains significant rallies,” he said.

Inflation
The CPI (Consumer Price Index) indicates that in February 2012, the inflation rate was 1% , influenced by rising fuel price and other factors. The transport sector contributed to inflation of the month for the observed increase in the prices of super and regular gasoline and diesel, derived from increases in international prices of fuels.

The line “housing, water, electricity, gas and other fuels” also affected the behavior of the February CPI due to the increase in prices of rental housing, the supply of electricity and water, kerosene, liquid gas and LPG .

The president of the National Association of Industrialists, Adolfo Facussé, said that rising costs are passed on to end consumers via product prices.

Several entrepreneurs have advanced to continue the upward trend in fuel prices, consumers should expect higher prices for goods and services they buy.

Link to Original Article:

From La Prensa Honduras

Latin America Investment News on Viva Tropical