Panama- The National Secretary of Energy announced this Wednesday, October 19, the new maximum prices of sale of the fuels that will be in force in Panama during the next 15 days, according to what is established in the Resolution No. MIPRE-2022-0039820

According to the publication made this Wednesday in the Official Gazette number No. 29647-A, for the provinces of Panama and Colon the 95 octane gasoline will be priced at $1,160 a literthat is to say that the gallon will be worth $4,390 ($4.40). This means that the State will have to subsidize $1,141 per gallon of this gasoline that is consumed by users.

Refering to 91 octane gasoline, its price per liter was set for the following term is $1,099 ($1.10), which multiplied by 3.785 translates to $4,159 ($4.16) on gallon, so by subtracting the agreed $3.25 from that amount. This means that the Government must pay the concessionaires a difference of 0.909 (0.91) cents, which completes the real value of the gallon of this fuel.

For his part, the price ceiling of liter of sulfur-free diesel was fixed in $1,305that is, the gallon will cost $4,939 ($4.92), which translates into a disbursement by the Government of $1,689 ($1.69) per gallon consumed.

This means that the gallon of gasoline 95 octane rose Price 0.272 cents, since the current price is $4,118.

For its part, the gallon of 91 octane also increase its cost in 0.25 cents, because today it is still sold at $3,909 a gallon.

On the other hand, the sulfur free diesel it is the only one that presents 0.689 cent increase in its cost, because the current price is $4,250

These prices will take effect from 6:00 a.m. next Friday. October 21 and will be in effect until 5:59 a.m. November 4th of 2022.

Only last Monday, October 17, the National Government announced that it had approved the extension until January 15, 2023, of the fuel subsidy that allows the gallon of gasoline and diesel to have a retail price of $3.25.

The application of this palliative, which began to govern from last July 18, expired last Tuesday, since according to what was established in the Cabinet Resolution number 80, published in the Official Gazette No. 29580-A, this measure would only be in force for three months, with a state contribution up to the sum ofand $200 thousand, and when it is extended for 3 more months, it will be up to the Government to cover a similar contribution.

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Source: Critica

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Varun Kumar

Varun Kumar is a freelance writer working on news website. He contributes to Our Blog and more. Wise also works in higher ed sustainability and previously in stream restoration. He loves running, trees and hanging out with her family.

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