Fuel Prices Have Risen Today in Panama March 6 of 2026

Starting today Friday March 6, a new adjustment to fuel prices came into effect in Panama, with increases in all its variants, the National Energy Secretariat reported. The adjustment reflects the upward trend already shown by international crude oil prices and comes amid geopolitical tension in the Middle East.  According to the official report, 95-octane gasoline increased by four cents per liter and will sell for $0.94, while 91-octane gasoline rose three cents, reaching $0.88 per liter. Meanwhile, diesel registered the largest increase, of seven cents, to $0.90 per liter. 

These prices will be valid until March 20th, when the next bi-weekly review will take place.  Panama’s National Energy Secretary, Rodrigo Rodríguez, explained that the conflict in the Middle East has put upward pressure on international WTI crude oil prices, the benchmark used by Panama to import refined fuels. As a result, Panamanian consumers will have to bear an additional cost estimated at $5.4 million compared to what they were paying 14 days ago.

“This is an additional impact on top of the fuel price increase already projected for last Friday.  The rise in diesel and 91 and 95 octane gasoline prices will mean an additional cost of $5.4 million,” the official stated. Rodríguez added that the rapid increase in crude oil prices in recent days ended up doubling the adjustment already anticipated for the local market.  The Energy Ministry warned that the full reaction of international markets could be seen more clearly in the next adjustment cycles, depending on how the crisis evolves and its impact on the price of oil.

Subsidies Will Not Return

President José Raúl Mulino indicated that there will be no new fuel subsidy. “We will pay what we have to pay,” he said regarding the fuel price increase that went into effect this Friday.  “I don’t foresee any government subsidies, I anticipate that. We’re not in a position for that. The crisis will pass and the price will be determined by market supply and demand, but I’m not thinking about subsidizing fuels again with the chaos that ensued last time.

Panama will pay whatever price it has to, and I regret that,” the president stated during his discussion on Thursday, March 5.  The fuel subsidy was in effect from July 2022 to January 5, 2024, and represented a cost of $500.6 million for the Panamanian State.  During the period of the fuel subsidy of $3.25 per gallon, equivalent to approximately $0.86 per liter, authorities detected irregularities such as unusually high consumption in short periods, deliveries without vehicles, and possible resale in border areas, which prompted investigations to strengthen program controls.