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Nicaragua’s Government will cover fuel hike

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Nicaragua’s Government will cover fuel hike

Managua, Apr 16 (Prensa Latina) Despite the increase in international oil prices, the Nicaragua State will reportedly cover one hundred percent for the increase in fuel prices, the Energy Institute.
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According to a joint communiqué with the Ministry of Energy and Mines, the measure help families and the country’s economic activities such as production and collective transportation.

Diesel prices for the following week should increase by 16.32 córdobas (0.45 US cents) per gallon, however, the Sandinista government decided not to increase this value and to assume the total of such increase.

According to the report, other fuels such as super and regular gasoline will maintain their prices without any adjustment.

As for liquefied petroleum gas, the Nicaraguan government assured that there will be no change in its price for the 10, 25 and 100 pound cylinders.

Likewise, the document refers to the permanent monitoring of crude oil prices worldwide by the government of President Daniel Ortega and Vice President Rosario Murillo.

According to official data, in the past 12 months the price of a barrel of crude oil from the Organization of Petroleum Exporting Countries increased 68.11 percent. At the beginning of this week the cost per barrel was around 106.07 dollars.

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