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Nicaragua will absorb part of the cost of fuel and freezes gas prices

Nicaragua absorberá parte del costo del combustible y congela precio del gas

The Government of Nicaragua announced this Saturday a freeze on the prices of liquefied petroleum gas and will absorb 70% of the increase in the most widely used fuels to mitigate the impact of the rise in international oil prices.

The Government “will be absorbing 70% of these increases in the case of gasoline and diesel, and will be maintaining the prices of liquefied petroleum gas, which is what Nicaraguan families use to prepare food, without any change” reported the Nicaraguan Institute of Energy and the Ministry of Energy and Mines, in a joint statement.

The measure will not be permanent, as the authorities will decide on prices every week, according to the needs, according to the authorities.

The Nicaraguan government made this decision after two weeks of keeping the prices of all fuels frozen.

The decision is exceptional, since every week fuel prices in Nicaragua are increased regardless of the cost of oil in international markets.

In Nicaragua, the best-selling liquefied petroleum gas tanks are 25-pound tanks, and their value will be frozen at 436 cordobas (12.21 dollars), according to the local reference price, based on Managua.

Starting tomorrow, each liter of super gasoline, the most used in light cars, will cost 47.64 cordobas (1.33 dollars); The liter of regular gasoline, more used in less modern cars, will cost 46.48 (1.30 dollars); and the liter of diesel, applied in heavy vehicles, will be purchased at 41.37 cordobas (1.15 dollars).

The Government made the decision despite the fact that fuel prices in Nicaragua are not regulated by the State.

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