Honduras spends 52% more on oil imports in first 5 months 2021

RIO DE JANEIRO, BRAZIL – Honduras’ oil bill totaled US$608.9 million between January and May this year, 52% more than in the same period of 2020, and the country bought one million more barrels of hydrocarbons due to the increase in the international price of oil.

The report from the Central Bank of Honduras (BCH), presented to the press today, details that the purchase of fuels, lubricants, and bunkers for power generation has increased by US$208.3 million compared to the same period of 2020 (US$400.6 million).

The increase in the oil bill in the first five months of 2021 is due to the rise in the international price of oil, influenced by the reactivation of the economies of the rest of the world, mainly the United States, after the closure of activities due to the covid-19 pandemic, the report explained.

Read also: Check out our coverage on Honduras

Honduras had accumulated 286,635 confirmed cases and 7,594 deaths due to covid-19 since March 2020, when the first two infections were confirmed.

In the case of diesel, the Central American country paid US$211.1 million for its import, 41.8% more than in the reference period of 2020, when it bought US$148.9 million, said the Central Bank of Honduras.

The purchase of superior gasoline, for US$153 million, increased 91.1% in relation to 2020, when it was US$80.1 million.

According to the document, the import of regular gasoline cost Hondurans US$80.9 million, which is 59.6% more than the US$50.7 million paid in 2020.

The entity indicated that the purchase of a bunker, the main raw material for thermal energy generation, for US$104.6 million, increased 24.1% in relation to the same period last year when it amounted to US84.3 million.

It also noted that US$59.3 million in kerosene and liquefied gas for domestic use were purchased, which is 62% more than the US$36.6 million paid in 2020.

Last year, 7.8 million barrels of oil derivatives were imported, representing one million more than what was bought in 2020, when they totaled 8.7 million barrels, the Central Bank indicated.

The agency included in the oil bill between January and May 2021 the purchase of electricity that Honduras made to other Central American countries, which it does not identify, for 6.8 million dollars, 22.7% less than the 8.8 million bought in 2020.