The president of the Chamber of Commerce, Industries, and Agriculture of Panama (CCIAP), Juan Arias, stated that the war in the Middle East will impact fuel prices in the country. Arias outlined two repercussions that the country might face due to this international conflict: fuel and the transportation sector. He emphasized that although Panama is not involved in 'that war,' it is part of the global economy. 'Panama does not have a refinery, it receives fuel and diesel from that region of the world, so fuel prices must increase,' stated the head of the CCIAP. He reiterated that this behavior is already being seen in international markets. Additionally, he highlighted that the alteration in maritime transport routes will also contribute to this price increase. 'Two, the issue of transportation, not only due to the additional fuel costs for ships, but also because the routes will be altered to reach destinations like Panama,' expressed Arias. The president emphasized that Panama is a transit country, so the 'Panama Canal could be benefited' in certain ways by route adjustments. 'However, we would have to see how long 'this war' lasts to know how much it affects the country. On the other hand, he said that as Panamanians we must be vigilant regarding the issue of fuel, which is probably where we will be most affected by this situation in the Middle East.'
