Gasoline prices are rising this Good Friday

The National Secretariat for Energy announced the new maximum selling prices of fuel that will be in force in Panama for the next 15 days, in accordance with provisions no. MIPRE-2023-0012511.

These new fuel sales prices in Panama are calculated based on the behavior of international prices.

It will be in effect from April 7 to 21, 2023.

For the provinces of Panama and Colon, 95-octane gasoline will cost $1,073 per liter, or a gallon will cost $4,061 ($4.06).

This means that the state will have to subsidize 81 cents per gallon of this gasoline consumed by users.

For its part, 91-octane gasoline will have a price per liter of $1,014, which multiplied by 3,785 translates to $3,838 ($3.84) per gallon, so by subtracting from that amount the agreed $3.25, the Government is responsible pay the concessionaires the difference of 59 cents, which completes the actual value of a gallon of this fuel.

As for the maximum price of a liter of sulfur-free diesel, it is set at $0.933, that is, a gallon will cost $3.531 ($3.53), which means that the government will pay 28 cents per gallon consumed.

Under the new prices, which take effect at 6 a.m. next Friday, a gallon of 95- and 91-octane gasoline will see a slight increase, while low-sulphur diesel will drop in price.

Currently, the prices set 15 days ago remain in effect until 5:59 a.m. next Friday, in which a gallon of 95-octane gasoline was $3.99, 91-octane was $3.77, and sulfur-free diesel was $3.58.

Just last Tuesday, March 28, Cabinet of the Council of Panama approved the extension of the price of a gallon of solidarity fuel to B/.3.25 until April 22, 2023. In addition, the price of a gallon of solidarity fuel will remain at B/.3.25 for 91-octane gasoline and diesel, until May 31, 2023.