Jorge Rivera Staff reveals that since 2018 there is a fixed cost regulated by the Government in terms of fuel

The National Secretary of Energy, Jorge Rivera Staff, addressed this Thursday the issue of the increase in fuel prices in the country, indicating that there is a price cap mechanism in Panama since 2008 and has been maintained to date.

“This cap mechanism was intended to be for six months and today, in 2022, it is maintained. The price that we all pay at gas stations is made up of the price at which we import the fuel in Panama and the local prices that are three components: the marketing cost, which is set in the price ceiling by the Government at 40 cents per gallon, is three cents of freight in the province of Panama per gallon and 60 cents of tax for gasoline and 25 cents for diesel,” he explained. .

He added that for gasoline there is a fixed cost regulated by the Government that has not changed since 2018, which is $1.03 per gallon and 0.68 cents for diesel. “Today diesel is at $5.15 a gallon, of which only 0.68 cents is the local cost that is regulated and frozen by the Government; what varies every 14 days is the price at which we buy fuel internationally,” he said. .

Staff mentioned the resolution that seeks to mitigate the effects of rising fuel prices, for the benefit of users of public, collective and selective transportation in the country, which was approved on Wednesday by the Cabinet Council.

The draft Cabinet Resolution 56-22, adopts administrative measures to allow the allocation of resources, up to the sum of $8 million in favor of the Land Transit and Transportation Authority (ATTT).

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