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Also in this section:
Record prices at the gas pumps
Panama Ports settles with the government
US trade rep expects free trade with Panama this year
Business & Economy Briefs
 

Never have gas prices been this high before

Panama is not an oil producing country, and even thought Venezuela gives us a discount from the prevailing world prices, Panamanian drivers are still paying record prices. The high fuel prices are rippling through the national economy, most noticeably for those who don't drive their own cars in the cost of food. Bus and taxi fares are regulated by the government here, but the current price structure won't be able to hold for very long. The government is already saying that a rise in bus fares within and to and from the Interior is imminent, and with protesting taxi drivers blocking traffic in the Panama City - San Miguelito metro area and taxes already having been taken off of gas and diesel the Torrijos administration is going to have few other options than an increase in cab fares. Photo by Eric Jackson