Panama Canal Sets Record High for Toll Fees on Busiest Routes as Crude Oil Tanker Waiting Time Extends to 4.25 Days

⑴ According to data compiled by Argus Media, transit fees for the busiest route through the Panama Canal have reached a record high. The daily auctions for crossings on this route are attracting five times the number of bids compared to the period before the US-Iran conflict, and the average auction transit price for the most widely used Panamax locks has reached $837,500.⑵ According to data research agency Kpler, due to a surge in US oil and fuel shipments transiting the Panama Canal—which provides the shortest route between the US Gulf Coast and Asia—the current waiting time for crude oil tankers seeking passage through the Panama Canal has risen to 4.25 days, marking a six-week high.