Guatemalan consumers of gasoline, diesel and other petroleum products they paid US$601 million moreequivalent to about Q4.6 billion, due to the import of these products, mainly from refining plants in the United States, compared to 2025.
This means that the country does not record savings in paying the oil bill, but instead allocates more foreign currency to the purchase of oil derivatives, which also impacts the family budget. That is, households must allocate more resources to purchase gasoline or diesel or sacrifice other expenses.
Oil bill rises 29.5%
According to the update of the exchange balance of the Bank of Guatemala (Banguat)the fuels and lubricants category registered an increase of US$601.1 million compared to the same period in 2025.
The purchase of these products during the first five months of the year amounted to US$2,637 million, an increase of 29.5%, equivalent to about Q20,173 million, compared to the US$2,035 million (about Q15,567 million) registered in 2025.
The average observed price increased 20.1% between January and May.
Meanwhile, the volume of imports grew 7%, which could be associated with the dynamism of economic activity and national production, which is absorbing this higher cost.
Homes absorb oil rise
Hugo Maul, analyst at the National Economic Research Center (Cien), explained that this increase is due, in its entirety, to the behavior of the international price of a barrel of oil and fuels, mainly gasoline and diesel, that Guatemala acquires in the refining plants of the United States, located on the coast of the Gulf of Mexico.
He recalled that, during the first five months of this year, the price of crude oil increased almost 60%, which put strong pressure on the oil bill.
Furthermore, consumers, upon observing higher prices, reduced their consumption, so the increase in imported volume was not proportional to the increase in the cost of imports.
“There are two phenomena: one is the increase in the international price of diesel and gasoline, which is 60%, and, on the other hand, a saving by the country to avoid buying more expensive oil,” he exemplified.
The purchase of these products during the first five months of the year amounted to US$2,637 million, an increase of 29.5%, equivalent to about Q20,173 million.
The researcher indicated that, in households, this increase implies reducing other types of consumption to finance the cost of fuel, that is, absorbing that adjustment.
He clarified that, although there was a state subsidy, it was relatively moderate compared to the increase observed.
In general terms, he assured that Families had to allocate more resources during the first five months of this year to the purchase of fuel than in the same period in 2025.
Oil marks savings and dissavings
Statistics show that between 2018 and 2026 the country has recorded episodes of savings and dissavings in the annual oil bill, associated with drops and increases in the international price of a barrel of oil and its derivatives.
When the price of oil and its derivatives decreases, consumption tends to increase, because consumers take advantage of the lower prices to purchase more fuel.
On the other hand, when the price increases, people reduce their consumption and adopt other measures to deal with the impact on the family economy.
Savings: due to lower oil prices in imports
- 2025: savings of US$82 million
- 2024: savings US$83.3 million
- 2023: savings US$632.2 million
- 2020: saving US$1,110 million
- 2019: savings US$2.2 million
Dissaving: due to the rise in the price of oil in imports
- 2026: US$601 million (as of May)
- 2022: US$1,692 million
- 2021: US$1,830 million
- 2018: US$444 million