Panama fuel prices up 64% since Iran war began

Fuel prices in Panama have increased by an average of 64.2 percent since February, when the war in the Middle East began, based on official data.

Diesel leads the increase with 82.1%, followed by 91-octane gasoline with 55.4% and 95-octane gasoline with 55.1%.

The Minister of Economy and Finance, Felipe Chapman, reports that the Metro and public transport will cost more than $100 million.

Rosmer Jurado, president of the Panamanian Industrial Union (SIP), stated that “the increase in fuel prices generates additional pressure on the operating costs of various sectors, and industry is no exception. Its impact is mainly reflected in transportation, logistics, and the movement of raw materials and products.”

The president of the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP), Aurelio Barría Pino, said: “The pockets of Panamanians are affected, in this situation, by external issues that are impacting the cost of things.”