Puerto Rico’s economic activity index held up its downward spiral in June, when it reflected a reduction of 1.8 percent compared to June 2015, and a 0.2 percent reduction compared to May 2016, the Puerto Rico Fiscal Agency and Financial Advisory Authority (FAFAA) announced Monday.
Retail sales reported by Puerto Rico’s commercial establishments during the January to December 2015 period reflected a 1.42 percent year-over-year drop, with sales down by $544.7 million to $37.8 billion, Puerto Rico Trade and Export revealed Thursday.
Costco Wholesale Corp. will finally be able to break ground on its first gasoline station in Puerto Rico, a $2.5 million project that recently got the go-ahead from the Puerto Rico Permits Management Office.
Puma Energy’s Puerto Rico operations have received the “Top Tier Detergent Gasoline” designation, the highest fuel performance standard, becoming the first and only local brand of gasoline to earn that distinction.
Following what can only be called an attempt to avoid the unavoidable, the Government Development Bank finally posted the Economic Activity Index — with weeks of delay — for the months of September and October, revealing results that keep Puerto Rico in negative territory for the 11th consecutive month.
In response to an avid response from consumers and gasoline retailers, Puma Energy Caribe, LLC. announced Thursday it will offer gasoline with ethanol in more than 270 service stations across Puerto Rico.
Puma Energy officials announced Tuesday plans to implement the “Puma-e” initiative, a pilot program through which it will make available an eco-friendly, gasoline-ethanol blend fuel at 56 of its 235 gas stations in Puerto Rico.
The Sol Group and Sol Puerto Rico Limited, the exclusive distributor of Shell Fuels in Puerto Rico, announced Wednesday the extension of the licensing contract for the use of the Shell brand in Puerto Rico for another 10 years.
Six months after announcing its acquisition of Chevron’s fuel marketing and aviation businesses in Puerto Rico and the U.S. Virgin Islands for an undisclosed amount, Puma Energy confirmed Tuesday it has wrapped the transaction.
The Environmental Protection Agency announced Tuesday a settlement agreement with Chevron Puerto Rico, LLC through which the company will spend some $5.2 million to improve leak detection methods and operations at some 100 Texaco service stations. The company will also pay a $600,000 penalty.
Retail sales apparently got off on the right foot this year, reflecting a 4.2 percent year-over-year increase in January, according to the latest statistics Puerto Rico Trade released Tuesday.
As the price of gasoline officially soared to more than $4 a gallon in six U.S. jurisdictions, and counting, the price for gasoline in Puerto Rico remained slightly below that threshold over the weekend.
The island’s retail sector ended 2010 with a slight 1.85 percent year-over-year increase, generating more than $2.3 billion in activity. However, the rising costs of food, gasoline and medicines, coupled with the influx of federal funding, could explain the spending growth.
Puerto Rico’s Economic Activity Index for February showed the first month-over-month increase, of 0.4 percent in comparison to January, since October 2010, the Government Development Bank said Sunday.
As oil prices settled at close to $98 a barrel Friday, prices at the pump on the island also spiked, prompting concerned consumers to scramble to fill up their tanks in case things get worse in coming days.
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