Diesel will get a significant reduction with the latest exchange rate correction, which will be effective from this Friday, February 24.
However, 95 and 91 octane gasoline will have slight price increasesis stated in the latest decision of the State Secretariat for Energy, which brings new fuel prices, which is valid until March 10.
The government decided to extend the subsidy for fuel, freezing its price at $3.25 until April 1 of this yearTherefore, these rates are still imperceptible, directly, for private and commercial drivers.
The 95 octane gasoline will jump from $4.00 to $4.03while 91 octane, from $3.77 to $3.79 in the cities of Panama and Colon.
For diesel, it will drop from $3.87 to $3.71 in both cities where a large part of the country’s vehicle fleet is concentrated.
Subsidy extension includes a $30 million fundit is stated in the decree approving this measure.
As of this Wednesday, the state has subsidized $336.48 millionmostly to private drivers, with $193.3 million.
Meanwhile, internationally, the price of a barrel of WTI oil was 75.41 dollarslower cost than last week, when a new extension was decided.
AND the largest increase in US crude oil inventoriesit has allowed prices to remain stable in recent weeks.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
