He cabinet council approved the extension of the price of a gallon of solidarity fuel to $3.25 for gasoline of 95 and 91 octane, as well as diesel until April 22, 2023.
Likewise, it was approved that after April 22 and until May 31 the price of a gallon of solid fuel is $3.25 for gasoline and diesel of 91 octane.
On February 14, the Cabinet Council, headed by President of the Republic Laurentino Cortizo approved the extension of the price of fuel to $3.25 until April 1 of this year, for which the new measure is enacted for a period of an additional 60 days.
With these measures, People’s government seeks to continue to promote economic growth in sectors such as: agriculture, livestock, manufacturing, fisheries, construction, trade, industry and tourism, among others.
This measure aims not to raise the price of the ticket for the population, with the guarantee of creating jobs and preventing inflation in Panama remains among the lowest in the world for the country to move forward.
It is explained that this subsidy was approved by national government, it represents a great effort and fiscal sacrifice, with the sole purpose of mitigating the high costs of products and services to the population in general, as well as an additional incentive to continue the reactivation of the economy.
As of today, the price of fuel in the world is lower than before the start of the war between Russia and Ukraine in February 2022.
Subsidized fuel was approved after a a wave of protests across the country in July 2022.
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.
