The Panamanian government has set new retail fuel prices for a two-week period starting Friday, February 20. The National Energy Secretariat confirmed increases for both grades of gasoline while holding the price of diesel steady.
This regular price adjustment reflects the country’s policy of bi-weekly fuel price revisions, which are tied to international market fluctuations. The new rates will remain in effect until 5:59 a.m. on Friday, March 6. Officials stated the changes aim to balance domestic costs with global crude oil trends.
In a public statement, the Energy Secretariat detailed the specific adjustments for consumers across Panama. The price for a liter of 95-octane gasoline will rise by two cents, reaching $0.91. Similarly, 91-octane gasoline will also increase by two cents per liter, setting its new price at $0.85.
“The price of low-sulfur diesel will remain at $0.83 cents per liter,” the Secretariat’s announcement confirmed. [Translated from Spanish]
This price freeze for diesel offers some relief for the commercial transportation and logistics sectors, which rely heavily on the fuel. The contrasting treatment of gasoline and diesel prices suggests an effort to mitigate broader economic impacts.
Impact on Consumers and the Market
For most Panamanian drivers, the immediate effect will be a slight increase in refueling costs. The higher octane rating fuel, often used in higher-performance vehicles, sees a slightly larger total cost per liter. These incremental changes can accumulate over time for families and businesses with significant travel needs.
The stability of the low-sulfur diesel price is the key takeaway from this cycle. It prevents additional operating cost pressures on goods transport, maritime operations, and public bus services. This decision likely considered current inflation data and supply chain stability.
Analysts monitor these bi-weekly announcements as a pulse on both global energy markets and local fiscal policy. The government’s pricing formula incorporates several international benchmarks and exchange rates. Panama’s system is designed to transmit international price movements directly to the local market without subsidies.
The next price adjustment is scheduled for announcement on March 5. It will take effect on March 6, continuing the country’s established cycle of fuel price management. Market observers will watch crude oil trends in the coming days to anticipate the direction of the next change.