country · North America
As of early October 2026, a gallon of regular gasoline in Panama averages $5.40 — that is $1.43 per litre, and ranks #122 of 225 places we track, where #1 is the cheapest.
Moderately taxed
Panama's price is world crude plus mid-level fuel taxes — the typical setup across much of Asia, Africa and Latin America.
An estimated split of a $5.40 gallon in Panama. Crude oil trades as one global price, so the part that differs between countries is mostly tax.
| Component | Per gallon | Per litre |
|---|---|---|
| Crude | $2.10 | $0.55 |
| Refining | $0.55 | $0.15 |
| Distribution | $0.85 | $0.22 |
| Tax | $1.90 | $0.50 |
| Pump price | $5.40 | $1.43 |
| Comparison | Per gallon | Difference |
|---|---|---|
| Panama | $5.40 | — |
| World average of all 225 | $5.55 | −$0.15 |
| North America average | $5.89 | −$0.49 |
| Cheapest anywhere — Libya | $0.09 | −$5.31 |
| Priciest anywhere — Hong Kong | $16.70 | +$11.30 |