Price Caps to be Maintained in Panama

The new government will continue with the price cap system implemented in September 2008 to regulate fuel prices.

Tuesday, June 9, 2009

The intention of the Organization of Petroleum Exporting Countries (OPEC) to press for oil prices to reach $75 per barrel at the end of 2009 is a major reason to give continuity to the price cap system set in 2008 when the price of fuel in Panama almost reached $5.

According to Pa-digital, "Juan Urriola, secretary-designate for Energy, said the new administration will continue with this system because it regulates prices and benefits the consumer."

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The bill for the Central American Isthmus will increase to 42.8% at the end of this year compared to 2007, according to data from Cepal.

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