Panama gasoline prices up 25.6% in first semester

The price of gasoline in Panama, during the first semester of 2021, registered an increase of 25.6%  behind only  Argentina with the highest percentage of increase (49.2%), in the region according to an analysis of the firm picodi.com marketing agency.

Currently and until July 30, a liter of 95 octane gasoline at the Panama and Colón stations sells for 93 cents and a gallon for $3.55.

In July 2020, when consumption had fallen due to the pandemic, the 95 octane liter cost 64 cents and a gallon$2.43, that is, in one year the increase has been $1.11 per gallon. Panama does not have a refinery and buys finished fuels on the international market, according to fluctuations in the price of oil; and it must index the costs of insurance, transportation, and tax for the State.

Gasoline prices also rose in Nicaragua (23.1%), the Dominican Republic (20.6%), Puerto Rico (20.2%), Guatemala (16%), Costa Rica (9.1%) and Paraguay (7.5