The Fuel prices in Guatemala could increase in the next few days Due to the international oil rise caused by the conflict in the Middle East, specifically by tensions between Iran and Israel. This was warned of Enrique Meléndez, executive director of the Guatemalan Association of Gasoline Expendors (AGEG), who explained that the increase is between 7% and 8% in the international market.
Meléndez indicated that the local impact will depend on the rotation of the inventories handled by importing companies.
“We are subject to the price movements that they also agree, with the movement of their inventories,” he said, so the adjustment could be reflected in the service stations in the coming days.
He added that, until now, some consumers still find low prices in certain gas stations, a reflection of a downward trend that had been observed in the international market.
However, that decrease, as indicated, was due to a firm supply and a lower demand, especially for the economic slowdown in China.
Regarding imports, Meléndez explained that Guatemala is supplied mainly from two points: the coast of California and the United States Gulf coast, where the majority of oil derivatives that are marketed in the country come from.
On a possible major escalation in prices, the manager explained that he will depend on how the conflict evolves. “If this extends to oil -producing countries or if there is any interruption in transit through the Ormuz Strait – where it passes between 20% and 25% of the global offer – there could be more increases,” he warned.
Premature scenario
Fausto Velásquez, Gasolinera Uno manager, said it is premature to affirm if there will be a price increase and in what percentage will increase.
Velásquez indicated that imports from that company come from the United States. However, he explained that the price of hydrocarbons is globalized and, therefore, could be a negative impact for the country.
“It would be necessary to wait if those high oil prices are maintained and if it will come with variation of prices to Guatemala,” he explained.
The conflict
Israel launched on Thursday night a large -scale attack against Iran, in which it bombed nuclear and military facilities, as well as the capital, Tehran, in an operation that the Islamic Republic considered “a declaration of war.”
The bombings caused the death of high Iranian commanders, including the chief of the Army Staff, the head of the Guardians of the Revolution – the ideological army of Iran – and the commander of the aerospace force of that armed body, Tehran said.
The streets of Tehran, the Iranian capital, were deserted, except for the ranks that were formed in the gas stations, something common in times of crisis.
Meanwhile, Israel, which declared the state of emergency, deployed reservists throughout the country “as part of defense and attack preparations,” said his armed body, which said he had hit a hundred objectives in the Islamic Republic.
In 2022, the international conflict between Russia and Ukraine, which had been delayed for three months, caused the arrival of raw materials or supplies for the operations of several companies in Guatemala.
This is because the country, like other developing economies, depends on imports to ensure its production process. However, the conflict and logistics difficulties altered the stability of business projections of 2022 and 2023.
Prices
Weekly comparison with average fuel prices, according to data from the Ministry of Energy and Mines (MEM)
Metropolitan area
Modality: Self -service
- Superior Q30.16 Monitoring of June 2
- Upper Q30.00 June 9 monitoring
- Difference Q-0.16
- Regular Q28.63 Monitoring of June 2
- Regular Q28.49 Monitoring of June 9
- Difference Q-0.14
- Diesel Q25.20 Monitoring of June 2
- Diesel Q25.03 Monitoring of June 9
- Difference Q-0.17
Modality: full service
- Superior Q31.23 Monitoring of June 2
- Upper Q30.93 Monitoring of June 9
- Difference Q-0.30
- Regular Q29.73 Monitoring of June 2
- Regular Q29.41 Monitoring of June 9
- Differenceq-0.32
- Diesel Q26.22 Monitoring of June 2
- DIE Q25.87 MONITORING OF JUNE 9
- Difference Q-0.35
- KEROSENE Q37.00 MONITORING OF JUNE 2
- KEROSENE Q37.00 MONITORING OF JUNE 9