Panama president reduces petrol prices following protests
This article is a summary of reporting by BBC News. Originally published July 12, 2022.
In response to escalating street demonstrations and strikes across the country, Panamanian President Laurentino Cortizo announced that petrol prices for private vehicles would be capped at $3.95 per gallon. The move represented a 24% reduction compared to prices at the end of June 2022. The unrest was sparked by surging inflation, rising food and fuel costs, and broader economic frustrations tied to post-pandemic fallout and global energy disruptions. Despite the concession, protest organizers warned that actions would continue until broader measures addressed the overall cost of living.
AI Summary
Panama's President Laurentino Cortizo announced a 24% reduction in fuel prices for private vehicles following widespread protests over soaring inflation.
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