Fuel prices are rising in Nicaragua; the government absorbs part of the increases

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Q24N – The price of a gallon of premium and regular gasoline recorded another rise in Nicaragua on Sunday, the Ministry of Energy and Mines and the Nicaraguan Energy Institute (INE) reported on Saturday.

The price of a US gallon (3.78 liters) of super gasoline has risen from $5.05 to $5.19 and that of regular fuel from $4.93 to $5.07, according to a joint statement from the two state entities, published by the Nicaraguan government.

Diesel fuel prices remained the same.

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The Ministry of Energy and Mines and INE explained that the increase per gallon of gasoline would have been greater, however, the government decided to assume US$0.19 of this increase in the case of super and 0.15 US dollars in the case of regular.

Meanwhile, the price per gallon of diesel, the most used by freight and public transport, will remain at US$4.58.

“According to international prices, the price of diesel for the following week is expected to increase by 22.30 córdobas (0.62 US dollars), however, our government has decided not to increase the price and assume 100% of the increase,” the entities said.

Read more: Current prices for gasoline and diesel fuels; LPG.

As for liquefied petroleum gas (LPG), which is what Nicaraguan households use in their kitchens, its prices will be the same as last week.

The entities said that the planned increase for LPG will also be absorbed by the executive.

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So far this year, there have been eight weekly increases and a decrease in the price of regular and premium gasoline, and nine increases in the price of diesel in Nicaragua, according to INE data.

The authorities explained that the high price of fuel in Nicaragua is due to “the constant increase in international prices for oil and its derivatives since the beginning of 2021”.

“The Government of Reconciliation and National Unity will now continue to constantly monitor the behavior of international prices and the rest of the variables that make up the price of fuels, and the corresponding actions and measures will be taken to mitigate the impact of the increase of these prices in the economy of Nicaraguan families,” said the Ministry of Energy and Mines and INE.

Fuel prices are established each week by the distribution companies according to variations in the international prices of these derivatives, “that is to say that these prices are not regulated by the State”, confirmed the INE in his press release. website.

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