PetroCuader has approved the strongest monthly increase in the price of super petrol. That’s another $ 0.68 for each gallon, which is a Unusual hit on the family budget That uses this fuel.
Starting this Tuesday, April 12, 2022, the owner of a small car with a 12-gallon tank will be required USD 56 to meet thisE.g., 17% more than you paid last monthWhen the price at the country’s gas stations was at least USD 3.98
Why did the price of super petrol go up?
Among the things that must be considered Ecuador For sale Three types of petrol: Extra, EcoCountry and Super. There are the first two Frozen price From October 2021, when prices Super petrol Is released, that is, responds Oil fluctuations in the international market.
To calculate the price of Ecuadorian crude oil, and therefore the price of super petrol, Petroquador uses Benchmark for West Texas Intermediate Crude (WTI), traded on the New York Stock Exchange, high quality and low in sulfur.
Before Russian aggression in UkraineWTI oil prices were already high, but with the war Shooting A Level above USD 100 per barrel.
To get an idea, in November 2021, the price of WTI It was close to 80 80 per barrel And in Ecuador, a gallon of Super Petrol sold for 2 3.52. This price was maintained until the beginning of 2022.
It is also important to consider that The price of Super Petrol is revised on the 12th of every month. For which the evolution of WTI 30 days prior to that date is considered.
PetroquadorFor example, price increases Super Petrol at USD 3.68 per gallon until 12 FebruarySince mid-January this year, the price of WTI has started rising.
It was March New hike Super Petrol has started to be felt from USD 0.30 per gallon, which has come down to USD 3.98, due to the impact of Russia’s invasion of Ukraine, which started on 24 February. In the first days of March, the WTI crude oil barrel has already surpassed USD 100 per barrel and reached its highest point on the 8th of that month: USD 123.
In fact, March has been the month with lOil prices are at an all-time high. For virtually the entire month, it has remained above 100 100 a barrel, which has not happened since 2013.
Oswaldo Erazo, Executive Secretary of the National Chamber of Petroleum Derivatives Distributors of Ecuador (Camddepe) Explaining that the March average price for WTI was USD 108 per barrelWhich is now being reflected in the price of super petrol.
Prices will fall in May
The direct relationship between WTI prices and the price of extra petrol makes it possible to predict what kind of behavior this fuel will have in the coming months. Although an exact value has not yet been established, Irazo noted that oil has registered a slight decline compared to March, although it is still at a high level.
For this reason, he estimates that the price of super gasoline will fall “a few cents”, that is, on May 12, when the new price is revised, it will be above USD 4 per gallon.