What are Gas Prices in Panama?
The price of gas is one of the biggest household expenses, especially with inflation soaring. In Panama, gas prices are capped by the government, which ensures prices won’t get out of control, no matter what is happening in international markets.
The National Energy Secretariat this week released the latest national fuel prices, which show 91-octane gasoline selling for 0.86 cents a liter, or $3.26 a gallon. Meanwhile, 95-octane gas is at 0.90 cents a gallon, $3.41 per gallon.
Gas prices are primarily influenced by international events far out of the control of any one country. However, the latest numbers indicate that gas prices in Panama are stable and significantly lower than in many parts of the world.
In California, for example, a gallon of gas is about $4.50 these days, down from over $5 a gallon in some areas. The national average is closer to $3.13 a gallon, which is why the U.S. is considered one of the most inexpensive gas markets in the world.
Compared to many parts of the world, filling your tank in Panama is a bargain. In Canada, a liter is about $1.16 a liter. Europeans pay crazy gas prices, typically more than $7 a gallon.
With inflation out of control in many countries, in Panama, there is peace of mind knowing that you will never need to take out a bank loan to drive your car.
