Panama puts the brakes on soaring gasoline prices
(petroleumworld.com) Panama's government on Wednesday announced it was stepping in to impose a minimum, 15-day freeze on gasoline and other soaring fuel prices.
The two-fold measure includes "stabilizing the price of fuel (high octane gasoline and diesel) ... with an disbursement of six million dollars" by the government, State Energy Committe Secretary Dani Kuzniecky told reporters.
He said the price restrictions would hold for at least 15 days.
Secondly, he added, a presidential decree will "temporarily limit the maximum retail price of some liquid fuels in Panama."
Kuzniecky said without government intervention, prices of 95 and 91 octane gasoline on Wednesday would have jumped 0.46 and 0.32 dollars respectively.
The new measure imposes a 3.99-dollar ceiling on 95 octane gasoline and 4.16 dollars on 91 octane, as well as a 3.59-dollar price cap on diesel.
