The Council of Ministers approved Resolution No. 24-26, authorizing the Ministry of Economy and Finance (MEF) to implement measures to temporarily stabilize the price of fuel for public passenger transport, cargo transport, agricultural machinery, and artisanal fishing.
The measure fixes the price of 87-octane gasoline at US$3.33 per gallon (US$0.88 per liter) and low-sulfur diesel at US$3.41 per gallon (US$0.90 per liter).
It will be valid for up to 10 months, subject to market conditions, with a cap of up to US$100 million. The subsidy will apply to collective, selective, school, and tourism transport modes, as well as the cargo fleet and activities linked to the agricultural and artisanal fishing sectors.
The Minister of Economy and Finance, Felipe Chapman, indicated that this is a temporary measure due to the increase in international oil prices, which directly impact the cost of living in the country. He added that the program will involve an additional allocation of state resources without affecting investment spending.
Implementation will be carried out by the MEF and the Comptroller General's Office, in coordination with entities such as the Ministry of Government, the Transit and Land Transport Authority, the Ministry of Agricultural Development, the Aquatic Resources Authority of Panama, and the National Authority for Government Innovation.
The Government also noted that other supports remain in effect, such as the subsidy for the Metro and Metrobus, as well as measures related to the electricity tariff and cooking gas.
The decision responds to the sustained increase in international fuel prices and their impact on transportation, logistics, and productive activities at the national level.
