Panama, Fuel Prices Decrease
Fuel prices were slightly reduced on Thursday, a measure intended to calm the generalized discomfort due to the current increase on the Panamanian cost of living.

According to the Authorities for Customer Protection and Competence Defense, the cost of a 91-octane gasoline gallon was reduced to 3.04 dollars, the 95-octane gallon was brought down to 3.28, while the diesel oil was lowered four cents under the three dollars per gallon.

These reductions, expected to be maintained until May 31, take place after the transportation workers strike against the unstoppable fuels rise threatening to destabilize the country.

Martin Torrijos administration Saturday announced it would subsidy the diesel oil for another four months, a formula to which the government has allocated a million dollars in its attempt to provide a temporal solution to the transport workers´ demands.

The stabilization of tariffs is estimated at 250,000 dollars a month. The subsidy was decided with the hope that the fuels price decrease at the international market. If the crisis continues we would have to analyze other alternatives, Interior Trade Minister Manuel Jose Paredes asserted.