Price elasticity measures the intensity with which demand responds to a change in price. Similarly, income elasticity measures the response of consumers to increases in their disposable income. The price data used correspond to the quarterly weighted average of the Import Parity Price (PPI). The PPI is a value that adequately reflects the evolution of the price variations of fuels to the final consumer. These data are calculated and published every 14 days by the National Secretary of Energy through the formula adopted in Decree No. 36 of September 17, 2003. The data used as a disposable income variable is the Gross Domestic Product (GDP) of Panama, which is published by the Institute of Statistics and Census (INEC) of Panama.