Economic measures 2018: How much does petrol cost in Latin America?

Until September 2017, imported vehicles must have Euro III technology. This was considered despite the fact that there was no improvement in the quality of petroleum products. The extra and super petrol sold in Ecuador is under the 95 octane that requires Euro III technology. How much does petrol cost in Latin America?

It may interest you: since when will the economic measures of the Ecuadorian government take effect?

The country's oil derivatives are in last place with regard to fuels sold in South American countries, according to data from Ecuador's Association of Automotive Companies (Aeade).

According to the quality of petrol, the leading countries are Argentina and Peru with 98 octane. This follows Uruguay, Bolivia, Chile, Paraguay, Colombia and Brazil.

Gas prices in Latin America:

The prices of fuels in the region vary from $ 0.03 in Venezuela and $ 6.03 in Uruguay according to the portal that measures the price of petrol in more than 150 countries . "The variation is due to subsidies and taxes on petrol," says the portal.

The page puts Venezuela as the country in the world with the cheapest gallon price of gasoline, or $ 3 this year. Venezuela is followed by Ecuador, Bolivia and Colombia. Ecuador, Bolivia and Puerto Rico are in second place throughout America.

"The average price of petrol worldwide is 1.17 (US dollar) per liter and $ 4.25 per gallon. There is a significant difference in these prices between different countries, "says the source, and as a general rule: the richest countries have the highest prices, while the poorest countries and the countries that produce and export oil have significantly lower prices. An exception is the US, an economically advanced country with low petrol prices.

Read more: Ecuador has 2012 Super Gas Octane again

This is the price table updated until August 20 according to the portal

Economic measures 2018: How much does petrol cost in Latin America? Economic measures 2018: How much does petrol cost in Latin America? / Metro Ecuador

What is octane?

"A fuel with a lower octane number than required by vehicle specifications generates higher emissions," said Xavier Mendoza, Transportation Specialist.

"Octane is the anti-knock ability of gasoline when it is compressed in the engine cylinder, the higher the efficiency of an engine, the higher the octane number is required to not affect its performance," emphasized Mendoza.

For this, Xavier Mendoza proposed taking measures to improve the quality of derivatives in the country and to give them "continuity".

Petroecuador expects to improve the quality of petrol

In 2017 Petroecuador reported that it has a project to improve fuel quality. This is analyzing the feasibility of building new refining units and carrying out other actions. So he aspires, in the case of petrol, produce one of up to 110 octane. The term or investment was not specified.

In Ecuador, the sale of the extra and super represents 41% of all fuels. The country also imports naphthas to produce these derivatives.

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