Sunday, December 10, 2023

Nicaragua extends stability in fuel prices

The Government of Nicaragua decided to extend the stability of fuel prices by one week, to “mitigate the impact” produced by increases in the economy of families, reported this Saturday the Ministry of Energy and Mines (MEM) and the Institute Nicaraguan Energy Agency (INE).

The fuels that will maintain their costs are those that interfere with the price of basic basket products, such as gasoline and diesel, used in transportation, as well as Liquefied Petroleum Gas (LPG), used in the preparation of foods.

The extension of the freezing of fuel prices in Nicaragua will come into force as of this Sunday and will end next Saturday, according to what was announced.

Premium gasoline, applied to light vehicles, will remain at US$5.13 a gallon, and regular gasoline, used in old-fashioned cars and SUVs, will continue at US$5; while diesel, used in cargo and collective transport, will be maintained at US$4.52 per gallon (3.78 liters).

The decision includes the costs of Liquefied Petroleum Gas (LPG), used in kitchens, the price of which depends on the size of the tanks and the area of ​​the country where they are sold.

The prices of fuels for transportation and food preparation have remained unchanged in Nicaragua since the beginning of April 2022.

The State of Nicaragua allocates between US$4 and US$6 million each week, to assume 100% of the rises in international oil prices, according to the Executive.

Nicaragua has a fund of US$200 million as part of a credit line of up to US$800 million, provided by the Central American Bank for Economic Integration (CABEI), to finance a regional program to support the global rise in fuel prices. .


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