The price of fuel would remain stable until the end of the year

The Secretary of Energy, Jorge Rivera Staff, pointed out this Wednesday that this is expected the price of fuel does not suffer major variations between July and December of this year.

Rivera staff reminded that in the current context, conditions of uncertainty and volatility must always be taken into account.

“What is expected at this point, at least from now until the end of the year, is that we have prices like these now,” he told the state channel.

According to a senior official, A Texas barrel of oilwhich takes Panama as a reference, is currently $75.

“That price is between $3.50 and $4 at gas stations in Panama,” the secretary added.

However, Rivera’s staff also noted that consideration must be given to what will happen with the recovery in oil demand in China.

The recovery of oil drilling and production in the United States and what will happen with sanctions and restrictions on the supply of Russian crude oil are also affected in the same way.

“If there are no variations, international experts suggest that we will maintain the prices we have at the moment,” the Rivera staff pointed out.

The government announced on Tuesday expansion of the solidary fuel program until August 14.

The price per gallon will remain at 3.25 for 91 octane gasoline and diesel. In April, the benefit for users of 95 octane gasoline was suspended.

“This is good news for continuing to support the country’s economic recovery and manufacturing activities that are part of the framework. This is a fiscal sacrifice that the government is making,” said Rivera Staff.