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Government of Nicaragua subsidizes fuel despite rising prices

NIcaragua, petróleo, precios, combustibles, subsidio

Government of Nicaragua subsidizes fuel despite rising prices

Managua, Apr 2 (Prensa Latina) Despite the worldwide increase in oil prices, the Nicaraguan government continues subsidizing fuel for the fourth consecutive week.
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According to a joint statement from the Institute of Energy of Nicaragua and the Ministry of Energy and Mines, the government decided to subsidize one hundred percent of the rise in the price of diesel and butane gas, and 50 percent of the rise of gasoline.

It also kept frozen the price increase of butane gas for home and industrial use in 10-, 25- and 100-pound containers. The report highlights the concern of both President Daniel Ortega and Vice President Rosario Murillo about the impact of the prices on the family economy and the country’s economic sectors.

“The behavior of international prices and the rest of the variables that make up the cost of fuels will continue to be permanently monitored,” a statement said.

The statement also indicated that corresponding measures will be taken to mitigate the impact of rising prices on the economy of families in the country.

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