Acodeco warns against price gouging following earthquake in Panama

Panama’s Consumer Protection and Defense of Competition Authority (Acodeco) has warned businesses against speculative price increases for essential goods following a recent earthquake. The agency urged merchants to act with “empathy, responsibility and solidarity” to avoid exploiting the emergency situation.

In the provinces of Herrera and Los Santos, maximum retail prices for bottled water remain in effect. Established limits include $1.25 for one liter, $2.05 for one gallon, and $6.25 for a five-gallon container. Acodeco emphasized that supply difficulties do not justify abusive charges or price hikes above legal limits.

Under Law 45 of 2007, the Executive Branch is authorized to temporarily set prices for specific goods and services when market inefficiencies or behaviors threaten consumers. The authority also reminded businesses of their obligation to display prices clearly and truthfully to ensure informed consumer decisions.