Big fall in Panama gas prices continues

Big fall in gas prices continues
A GALLON of 95 gasoline in Panama will fall 26 cents and 91 octane 27 cents on Friday December 26, according says the National Secretariat of Energy on its website.

With this low, 95 octane gasoline will be sold in Panama and SanMiguelito at $2 77 and 91 octane at $2.57 a gallon. In both cases the reduction per liter is seven cents.

Diesel will drop 28 cents a gallon ($2.52 at the pumps in Panama and SanMiguelito). For the rest of the country a reduction is governed by a table prepared by the Secretariat of Energy and the price varies due totransportation costs also.

Since last June all petroleum products have declined every 14 days, hand in hand with the ding international drop in oil prices which have fallen by 50%. The Texas Intermediate crude oil (WTI) which in June sold for $115 today is around $56, while the European benchmark Brent is at $60.

91 octane gasoline has decreased $1.57 a gallon and 95 octane $1,63 a gallon and diesel has dropped $1.21 a gallon.

According to industry analysts, with the new retail prices that take effect this Friday set against those in June. Panamananian consumers who buy gasoline and diesel at service stations will be saving approximately $51 million per month. If the consumption of the aviation industry d is added to the monthly savings amount to $97 million.

The questioning of consumers is directed toward the cost of some products and services, such as taxis, which have not reduced rates despite the reduction in fuel prices.
Big fall in gas prices continues, not reflected in services