Interesting that the stats are in gallons, and it is sold here in Panama by the liter.
Here's your chart in dollars per gallon and liter:
The current lower prices are likely influenced by a temporary jump in supply from the fracking craze, but that is expected to flatten out, and then supply is likely to begin to decline in the next few years.
Enjoy it while it lasts.
Keith Woolford > David van HarnAugust 27, 2014 at 10:50am
David, I believe they used gallons in this story because people here still aren't comfortable with the change to the metric system of measurement. Even the government Price Controls on food items are in pounds.
The reason gasoline is less expensive here seems to be all about TAXES.
David van Harn > Keith WoolfordAugust 27, 2014 at 1:37pm
I know little of the details about finance and the economy in Panama, Keith, but this is what Wikipedia says about it:
Panama's economy is based primarily on a well-developed services sector that accounts for nearly 80% of its GDP. Services include the Panama Canal, banking, the Colón Free Trade Zone, insurance, container ports, and flagship registry, medical and health, and other business. The country's industry includes, manufacturing of aircraft spare parts, cements, drinks, adhesives, and textiles. Also the leading exports for Panama are bananas, shrimp, sugar, coffee, and clothing.
I knew that the canal revenue and banking were very important, and the above summary seems to confirm that.
Replies
I take it you're slimming down through no fault of your own then. Cheers!
Interesting that the stats are in gallons, and it is sold here in Panama by the liter.
Here's your chart in dollars per gallon and liter:
The current lower prices are likely influenced by a temporary jump in supply from the fracking craze, but that is expected to flatten out, and then supply is likely to begin to decline in the next few years.
Enjoy it while it lasts.
David, I believe they used gallons in this story because people here still aren't comfortable with the change to the metric system of measurement. Even the government Price Controls on food items are in pounds.
The reason gasoline is less expensive here seems to be all about TAXES.
I know little of the details about finance and the economy in Panama, Keith, but this is what Wikipedia says about it:
I knew that the canal revenue and banking were very important, and the above summary seems to confirm that.