- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
- Spain logs record summer tourism as inflow draws protests
- Hedi Slimane quits as Celine's artistic director
- Oil prices extend rally on Iran attack
- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
CMSC | -0.08% | 24.76 | $ | |
BCC | -1.38% | 137.63 | $ | |
JRI | -0.6% | 13.3 | $ | |
SCS | -1.62% | 12.665 | $ | |
RIO | -1.58% | 69.72 | $ | |
NGG | -2.53% | 67.085 | $ | |
CMSD | -0% | 24.929 | $ | |
GSK | -3.08% | 38.27 | $ | |
BTI | -2.58% | 35.065 | $ | |
AZN | -1.86% | 78.125 | $ | |
RBGPF | -1.35% | 59.99 | $ | |
RYCEF | 1.15% | 6.98 | $ | |
BCE | -1.74% | 33.85 | $ | |
VOD | -0.41% | 9.7 | $ | |
RELX | -1.7% | 46.5 | $ | |
BP | 0.4% | 32.5 | $ |
Panama government reduces fuel prices in face of protests
Panama's president announced a reduction in gasoline prices and freezing of rates for several other essential products Monday in the face of continuing protests against inflation and corruption.
"I understand the dissatisfaction of various sectors with the situation we are experiencing, caused by the effects of the pandemic and the consequences of the conflict in Ukraine," Laurentino Cortizo said in a statement.
The price of gasoline for private vehicles will be reduced to $3.95 per gallon from July 15, he said, a drop of 24 percent from the price at the end of June.
Public transportation has already benefited from the lower price since May.
On Monday, hundreds protested in Panama in the second week of demonstrations against increases in fuel prices, which have risen 47 percent since January.
Cortizo also announced that his government would draft a decree to freeze the prices of a dozen essential food products.
Several unions, however, say that protests will continue until there is a general reduction in prices and gasoline rates drop below $3 per gallon.
In the western provinces of Veraguas and Chiriqui, near the border with Costa Rica, protesters blocked the Inter-American Highway, which connects the country to the rest of Central America.
In Panama City, a group of students clashed with police around the University of Panama, where a group of people temporarily seized a patrol car and broke its windows.
Inflation "means that fewer and fewer people can live in dignity," said Saul Mendez, secretary-general of the country's main construction union.
According to Mendez, for citizens to regain their purchasing power, the prices of medicine, food, electricity and fuel must be lowered or frozen, in addition to a general wage increase.
The Panamanian government set up a round table on Monday in the city of Santiago de Veraguas, one of the hotbeds of the protest, but no agreement was reached.
H.Cho--CPN