By: Dr. Franyi Sarmiento, Ph.D., Inspenet, April 12, 2022
The Government of Nicaragua reported that it decided to freeze fuel prices for a week, due to “the constant increase” in the international prices of oil and its derivatives.
The Ministry of Energy and Mines and the Nicaraguan Energy Institute indicated that, with the measure, which came into force from Sunday, April 10 to 16, the State will assume 100% of the increases that gas stations and gas distributors would apply. Liquid Petroleum (LPG) for seven days, according to information from EFE.
As a consequence of the government decision, a gallon of premium gasoline, used in most light cars, will remain at $5.19; regular gasoline, used in 4×4 vehicles, at $5.07; and diesel, which is consumed in heavy vehicles, at $4.58.
Additionally, the 25-pound LPG tank, the most consumed fuel to prepare food, will remain at 12.2 dollars in Managua, a price that serves as a reference for the rest of the country.
It is the third time this year that the Government makes a decision on fuel prices, despite the fact that these are not subject to legal regulations in Nicaragua, but rather are established by the free market.
The objective of the measure is to mitigate the impact of increases in international oil prices on Nicaraguan trade and transport activities, according to the Executive.
Fuel prices in Nicaragua tend to impact the entire value chain of products consumed in the country, which is usually charged in dollars or its equivalent in córdobas, according to information from EFE.
Source: https://www.valoraanalitik.com/2022/04/09/nicaragua-congela-precios-combustibles-una-semana/
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