Fuel Prices Decrease Starting October 6th - Expat Community

Fuel Prices Decrease Starting October 6th

Oct 6, 2023 | News & Articles, Panama | 0 comments

Starting from October 6th, fuel prices in the area are set to experience a decline, as announced by the National Secretariat of Energy. This price reduction is applicable to 91 and 95 octane gasoline as well as low-sulfur diesel, offering some relief to consumers who have been dealing with the economic effects of the global situation.


According to the details provided, the new fuel prices will take effect starting at 6:00 a.m. on Friday, October 6th, and will remain in place until 5:59 a.m. on October 20th. This two-week period allows motorists and other fuel consumers to take advantage of the lower prices, which were officially published on Wednesday, October 4th, in the Official Gazette No. 29882-B.


Breaking down the price changes further, the cost per liter of 95 octane gasoline will see a reduction of four cents. This particular type of fuel is often preferred for its higher quality and efficiency, making it a popular choice among vehicle owners. With the announced price adjustment, consumers will be able to purchase 95 octane gasoline at $1.123 per liter.


Furthermore, 91 octane gasoline, another commonly used fuel variant, will experience a price decrease of five cents per liter. This reduction brings the new price of 91 octane gasoline to $1.043 per liter, providing a more cost-effective option for those looking to economize on fuel expenses.


Low-sulfur diesel is not left out of this price adjustment wave. Known for producing fewer emissions and being environmentally friendlier, low-sulfur diesel will see a one-cent reduction in its price. Consumers looking to purchase this type of fuel will find the price set at $1.091 per liter during the specified time frame.


This announcement of fuel price reductions comes as a significant development for individuals and businesses alike. For everyday consumers, the price decrease means more savings at the pump, which can translate into a reduced financial burden in these challenging economic times. For businesses, especially those that rely heavily on transportation, the lower fuel costs can lead to reduced operational expenses, potentially resulting in lower prices for goods and services.


However, it is crucial for consumers to note that these prices are temporary, as they are scheduled to last until the early hours of October 20th. As such, it would be wise to plan fuel purchases accordingly to maximize the benefits offered by this price reduction period.


The move to adjust fuel prices is part of the ongoing efforts by relevant authorities to stabilize and regulate the market, ensuring that consumers have access to essential products and services at reasonable prices. By implementing these price changes, the National Secretariat of Energy aims to foster economic activity and support consumers through the challenges posed by the current global economic landscape.


laestrella.com – https://www.laestrella.com.pa/nacional/231005/descenso-precios-combustibles-6-octubre

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