Panama adjusts fuel prices: gasoline down, diesel up

Panama's Secretariat of Energy has announced adjustments to fuel prices, with gasoline set to become slightly cheaper and low-sulfur diesel marginally more expensive, effective Friday, August 21. This weekly price update reflects the dynamic nature of the international oil market.

The price of premium gasoline (95 octane) will decrease by $0.047, setting the new rate at $1.23 per liter. Similarly, regular gasoline (91 octane) will drop by $0.034, bringing its price to $1.16 per liter. These reductions offer a small respite for consumers relying on gasoline for their transportation needs.

Conversely, the price of low-sulfur diesel will experience a modest increase of $0.014, reaching $1.35 per liter. The Secretariat of Energy attributes these fluctuations primarily to the international petroleum market, where factors such as supply reductions and geopolitical volatility significantly influence costs.

In Panama City, the maximum prices per liter are now set as follows: Premium gasoline (95 octane) at B/.1.23, regular gasoline (91 octane) at B/.1.16, and diesel at B/.1.35. These new tariffs will remain in effect until the next price update at 5:59 a.m. on Friday, August 21.