MercoPress. South Atlantic News Agency

Price of fuel in Paraguay keeps falling

Only when the new shipment of fuel arrives in December will Petropar review its current sales prices, Román explained

The price of fuel at pumps in Paraguay has gone down twice in November of 2022 after a ₲ 100 (US$ 0,014) reduction per liter was announced over the weekend.

With the new measure, the retail price of 90-octane naphtha was ₲ 7,400 (US$ 1.02) and ₲ 8,160 (US$ 1.13) for 95-octane naphtha at Petrobras, Copetrol, and Shell stations. The same prices were to be found at Barcos & Rodados for 88 and 93 octane naphtha respectively, which beats the state-run Petropar's figures.

It was the second reduction by private companies in November, although the sale price for 97 octane naphtha remained unchanged, while diesel continues to show an upward trend.

Early this month, Petropar and some private companies increased the prices of diesel type I by ₲ 600, up to ₲ 10,590 per liter. A week later, privately-owned service stations increased their gasoline by ₲ 300 and regular diesel by ₲ 600. But 10 days later they had to lower their prices again after the state-owned company announced it would maintain its prices into December.

Petropar President Pedro Román said that the state-owned company will be receiving around 40 million liters of fuel in the second half of December. When this cargo arrives, it will be time to review the company's prices.

A barrel of Brent oil sold last Friday in London for US$ 84.03, a 1.28 % drop from the previous session. Europe's benchmark North Sea crude ended the day on the International Exchange Futures down $1.09 from the last trade. Fears of a drop in oil demand from China due to the increase in cases of COVID-19 continued to weigh on the price of Brent, it was explained.