The Rising Price of Gasoline and Diesel Fuel in Panama as of July 24
Oil prices rose again on Tuesday to recover to pre-ceasefire levels between the United States and Iran, as the crisis in the Middle East shows no signs of abating, particularly with regard to the Strait of Hormuz. The National Energy Secretariat announced that, from 6:00 am on Friday, July 24th until 5:59 am on Friday, August 7th, 2026, new maximum retail prices for some liquid fuels will come into effect at service stations across the country.
According to the entity, the new prices reflect an upward trend, driven mainly by geopolitical tensions in the Middle East, which have raised international prices for oil and its derivatives. The Secretariat explained that “this increase is mainly due to geopolitical tensions in the Middle East, which have generated an increase in international prices for crude oil and its derivatives, directly impacting the local cost structure.”
He also reiterated that he maintains constant monitoring of international markets to ensure that prices in Panama reflect only international costs and to guarantee the transparency of the calculation mechanism.
Prices in Panama and Colon
For the provinces of Panama and Colón, the maximum prices per liter will be:
- 95 octane gasoline: $1.257 per liter ($4.76 per gallon).
- 91 octane gasoline: $1.181 per liter ($4.47 per gallon).
- Ultra Low Sulfur Diesel (ULS): $1.271 per liter ($4.81 per gallon).
The National Energy Secretariat announced a new reduction in the maximum retail prices of liquid fuels (gasoline – diesel) that will be in effect in Panama from 6:00 am on June 26th until 5:59 am on July 10th, 2026.
Variation Compared to the Previous Period
During this adjustment, fuel prices registered the following increases per liter:
- 95 octane gasoline: +$0.084 per liter (+$32 per gallon).
- 91 octane gasoline: +$0.074 per liter (+$28 per gallon).
- Ultra Low Sulfur Diesel: +$0.183 per liter (+$69 per gallon).
Prices are updated every 14 days through a technical mechanism based on international variables and logistical costs. The National Energy Secretariat indicated that its priority is “to ensure the continuity of supply and protect the country’s energy stability.”
Get your Wallet Ready: Fuel Prices will Rise Between 7 and 19 Cents Starting Friday
The new fuel prices will be in effect from 6:00 am on Friday, July 24th until 5:59 am on Friday, August 7th.
