The new prices for super and ecoplús gasoline surprised the market on December 12. It is that according to the Petroecuador announcement, the suggested price for super 95 gasoline is $4.15, that is, 5 cents more; however, the other gasoline released, but lower octane (ecopús 89) fell 9 cents to settle at $3.28. What are the differences in the behavior of these two gasolines that have free prices due to?
In accordance with Oswaldo Erazo, executive director of the Association of Distributors of Petroleum Derivatives (Camddepe), does not understand the logic with which the terminal price is calculated. He explains that it was expected that the previous month there would be an increase in the super, but rather it fell; while this month a drop was expected and instead rose. In this sense, a first explanation could be that an attempt was made to offset the drop of the previous month. However, it clarifies that this is not Petroecuador’s power, since it is assumed that the price at which super gasoline is sold is simply the price without subsidy.
Additionally, he explains that the gas stations had the expectation that between November 12 and December 11 there would be a growth in the super market for the lowest price, but although there was an increase, it did not meet expectations. It is that the space occupied by this fuel in the automotive fuel market only increased from 2.3% in October to 2.5% in November. Although he says he does not lose hope that said market will continue to recover despite the new price increase.
In any case, it indicates that since next month it is very probable that the price will fall precisely due to the behavior of crude oil, which has been on the decline. Indeed, the price of Ecuadorian crude has gone from $104 in June 2022 to $80 per barrel in October, according to data from the Central Bank. For this December, the theoretical prices calculated by Petroecuador for Ecuadorian crude are located at $64.43 per barrel.
Despite the definition of the price of super gasoline at $4.15, this Monday, December 12, when the monthly adjustment took place at several gas stations, there were different prices. For example, at the Shell retailer gas station located in Amazonas and Eloy Alfaro, in Quito, the price remained at $3.99. On the subject, Erazo explains that by having a free price, many times each marketer opts for different strategies to attract their consumers or recover the market.
Meanwhile, in the United States, the price of premium gasoline woke up with an average of $4,011 per gallon (a decrease of 23 cents compared to the previous day and 53 cents less compared to a month ago), California being one of the states where it costs the most ($4,874) and Texas, one where it is cheapest ($3,368).
As soon as at the price of the ecoplus 89 he comments that the logic is not understood either, but what is evident is that this fuel has not yet taken off. According to his calculations, it would barely represent 1×1000 of the market: “There are barely 8,000 gallons per day that are sold, that is, not one tanker per day.”
Meanwhile, according to the energy analyst, Darío Dávalos, there are differences in super 95 and ecoplus 89 gasoline that may have led to one going up and the other going down in the same month. First super gasoline 95 octane is not mixed, but it is the imported one that is sold directly. However, it would be necessary to increase the price of freight, transportation and the marketing margins of the fuel of the trading companies.
Instead, gasoline ecoplús 89’s production base is gasoline with RON 80, which is mixed with ethanol (fixed price) and possibly also includes a small portion of 95 octane gasoline.
Meanwhile, the prices of 85 octane gasoline: the extra and the ecopaís continue to be frozen. These are sold at $2.40 a gallon, while premium diesel remains at $1.75. (YO)
Source: Eluniverso
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