The reference prices for gasoline and diesel show increases over the previous two weeks, because of the shortage presented by the United States in oil reserves by 10.8 million barrels according to the weekly report of the International Energy Agency (IEA).
This generates uncertainty in investors and producers, since oil is raw material for the generation of liquid fuels (gasoline and diesel) through refining, is cause for caution. This reduction was driven by the cut in production of the Organization of Petroleum Exporting Countries (OPEC) and the closure of oil towers, as well as refineries, caused by the hurricane and storm “Barry”, which struck the Gulf of Mexico and the coasts of Louisiana.
In addition, the geopolitical tensions in recent weeks have increased their intensity between the United States and Iran in the Ormuz Strait, where 20% of the world’s oil and petroleum products transit; and where European countries such as Great Britain, France and Germany have joined to ensure the free transit of cargo ships. However, Iran will not allow “anyone to commit irregularities”, causing the international market to maintain an upward trend in its prices.
|Prices in dollars*||Regular||Special||Diesel|
*Prices per U.S. gallon (3.785 liters)
**Prices taken from Acodeco.gob.pa.