For the cost of importation also known as oil bill, consumers paid US $ 4,909 million (about Q37 thousand 799 million) and represented a slight fall of -2.6% in relation to 2023 when it was US $ 5,45 million (Q38 thousand 846 million).
This variation meant that there was a saving of US $ 136 million, according to the update carried out by the General Directorate of Hydrocarbons (DGH), attached to the Ministry of Energy and Mines (MEM).
In addition to gasoline and diesel, liquefied petroleum gas, bunker, asphalt, lubricants, kerosina, petcoke and plane gasoline are also included.
Less dollars
In the structure there are two products that are important for the productive activity of the country, which are gasoline and diesel that matter mainly of the refineries of the United States and that are marketed in the domestic market.
“In consumption, factors such as economic growth, increased vehicle park and postpandandemics recovery in demand affect”
Enrique Meléndez, Executive Director of the Guatemalan Association of Gasoline Expendors
The cost for diesel import was US $ 1,649 million in 2024, which is equivalent to a debacle of -8.18% in relation to 2023; Secondly, there is regular gasoline for US $ 1,11 million, that is -6.8% and for the upper US $ 855 million that represented 0.9%.
For the importation of these products, consumers paid US $ 3,515 million that represented 71.6% of the total.
Consumption rises
When there is a lower cost there is a greater consumption or demand for consumers, representatives of the distribution chain presented when observing the DGH statistics and explaining the trend.
Diesel consumption rose 7% and reached 15.9 million barrels and gasoline (regular and super) 18.5 million gallons with an increase of 8.29% in relation to 2023.
The total consumption of both products was 34.5 million barrels in 2024; By 2023 32 million and 2022, it was 30.3 million, according to the series.
As a reference, the total in gallons of consumption of these products was 1,450 million and in 2023 thousand 347 million.
What explains it?
Fausto Velásquez, manager of one Guatemala – Liceniatory of the Shell brand in the country – and Enrique Meléndez, executive director of the Guatemalan Association of Gasoline Expendors (AGEG), agreed that there were two factors that raised a greater demand in 2024.
The economy was healthy last year with the result of the growth above 3% that was reported by the monetary authority “and demonstrates that in this dynamism there was demand in energy products in general,” said Velasquez.
“The relevant factors are the economic growth that most energy demanded and the part of the vehicle park segment”
Fausto Velásquez, manager of one Guatemala
The other is associated with the growth of the active vehicle park that grew 8% in general, but especially in motorcycles with 15%, standing in a park of 5.7 million units at the end of 2024 that are registered.
“The relevant factors are the economic growth that demanded more energy and the part of the vehicle park segment,” he said.
Meléndez, coincides with Velásquez and the increase in gasoline and diesel fuels with a slight decrease in the invoice, which means the international prices of oil derivatives were lower the previous year, and that has a benefit for consumers.
“In consumption there are factors such as economic growth, the increase in vehicle park and postpandandemics recovery in demand,” he said.
Perspective 2025
Both consulted gave a projection by 2025 in the consumption of oil derivatives.
Meléndez, said that a greater growth is expected considering the increase of the vehicle park and as the months will have an evolution of the increase that can be had in consumption.
An indicator is the projection of economic growth by 2025 that remains in a range of 3% to 5%, so that percentages are estimated for this year.
Velásquez said that it is unpredictable to forecast a price of the products because there are many variables in the international market and Guatemala is an importing country, so it is subject to that behavior.
In international markets there is a volatility in prices due to geopolitical factors and a turbulence in the Middle East, and the expectations of the global economy for the issues of possible tariffs in the markets that world production could partially contract.