Gas prices fall and diesel climbs

A gallon of 95-octane gasoline will drop three cents and that of 91-octane 12 cents onFriday, August 26, until September 9. Diesel will increase by 8 cents per gallon.

These are the regular fuel prices without the state subsidy that for more than a month was established at $3.25 a gallon for gasoline and diesel at all fuel stations in the country.

With the changes, the top price of 95-octane gasoline will be $4.29 per gallon, 91-octane gasoline at $4.07, and low-sulfur diesel at $4.45 per gallon, in the cities of Panama and Colón. For the rest of the country, prices show a slight variation due to transportation costs.

At the current frozen price of $3.25 per gallon, the State will subsidize $1.04 per gallon of 95-octane gasoline; $0.82 for a gallon of 91-octane gasoline, and $1.20 for a gallon of diesel.

According to reports from the National Authority for Government Innovation (AIG), the first month of the fuel subsidy has cost some $42 million.