Panama extends gas subsidy

The Government of Panama announced, Thursday, January 12th the price of a gallon of fuel will remain fixed at $3.25 for 95 and 91-octane gasoline, as well as diesel until February 15th.

The subsidy, which followed protests and disagreements countrywide was installed in July 2022, and expired on January 15. An additional thirty days were added, from the original date set. 

"While fuel costs worldwide are very high, Panama, with the rate of 3.25 a gallon, has one of the cheapest fuel prices in the world," said the State Communications Secretariat.

"In order to maintain this price per gallon of fuel, the National Government makes a great effort and a fiscal sacrifice in order to alleviate the high costs of products and services to the population in general and avoid the increase in the price of the ticket to the users of collective and selective transport, ‚ÄĚsays the statement.