Nicaragua freezes fuel prices for the second week in a row

The government of Nicaragua reported this Friday that it will freeze fuel prices, including diesel, the most used by cargo transport and public transport in the country, for the second consecutive week.

For the week from Sunday April 17 to 23, the prices of gasoline, diesel and liquefied petroleum gas will remain the same, without any adjustment, indicated the Ministry of Energy and Mines, and the Nicaraguan Institute of Energy (INE), in a joint statement released by the Government of Managua.

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The price of a gallon (3.78 liters) of superior gasoline will remain at $5.19 and that of regular at $5.07, while that of diesel at $4.58.

The authorities explained that, according to international oil prices, the price of a gallon of diesel for the following week should increase by 0.46 dollars, to total 5.04 dollars, “However, our Government has decided not to increase said price and assume 100% of said increase.”

“In the case of super and regular gasoline, prices will be maintained without any adjustment, with our Government assuming 100% of their increase,” pointed out the Ministry of Energy and Mines, and the INEwithout specifying how much the increase in the gallon of gasoline would be.

As for liquefied petroleum gas, which is what Nicaraguan households use to prepare food, its prices will be the same as two weeks ago for the 10-pound, 25-pound, and 100-pound presentations.

The increase that was planned for liquefied petroleum gas will also be absorbed by the Executive, according to the information.

So far this year there have been nine weekly increases and one drop in the price of regular and super gasoline, and nine increases in the price of diesel in Nicaragua, according to data from the INE.

“Thanks to the timely management of our Government, which has been managing for the benefit of Nicaraguan families the sustained increases in the international prices of crude oil and its derivatives, since January 2022 only partial increases have been transferred, with the aim of mitigating their impact in the family economy and in the economic sectors of the country”, authorities assured.

Fuel prices are established weekly by the distribution companies based on the variations in the international prices of these derivatives, “that is, these prices are not regulated by the State”, confirmed the INE in his web page.

Source: Elcomercio

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