Panama's Secretaría Nacional de Energía (SNE) published its bi-weekly bulletin on Good Friday, April 17, 2026, with diverging signals: 95 octane gasoline falls B/.0.024/L (from $1.255 to $1.231), while 91 octane rises slightly B/.0.005/L and diesel increases B/.0.010/L to $1.368/L — its highest level in 2026 so far.
Why do gasoline fall and diesel rise at the same time? The answer lies in the reference markets. Panama uses U.S. Gulf Coast prices published weekly by the EIA (Energy Information Administration). Reformulated gasoline (RBOB) retreated during the reference week as WTI fell back into the $62-65/barrel range amid geopolitical uncertainty and softer U.S. demand signals. Ultra-low sulfur diesel (ULSD), however, remained under upward pressure: global logistics demand — driven by freight transport in Asia and Europe — stayed firm despite weaker manufacturing activity.
For a Panamanian driver with a 50-liter 95-octane tank, the downward adjustment means B/.1.20 in savings per fill-up. Diesel users — urban bus fleets, cargo trucks, fishing boats — will pay B/.0.50 more for the same volume, which eventually feeds into freight and food price inflation.
The geopolitical context remains decisive. In mid-April, indirect U.S.-Iran talks raised expectations of greater Iranian supply on the market, pushing WTI lower. OPEC+ meanwhile kept its production quotas unchanged for Q2 2026 at the April 3 meeting. If crude consolidates below $65 over the next two weeks, we expect the May 1 update to show another gasoline reduction — and possibly diesel too, if logistics demand softens.