Starting this Sunday, Nicaraguans will pay a sharp rise in the price of fuel, due to the Russian invasion of Ukraine, hydrocarbon experts said.
Private sector sources anticipated that super gasoline will cost 45.80 cordobas per liter; 1.08 cordobas more than last week. The other types of fuel will also go up.
For regular gasoline, 1 córdoba will be paid more at service stations and its price will now be 44.63 córdobas per liter, while diesel will be worth 41.38 córdobas, after rising 1.19 córdobas per liter.
With this increase, the prices of super and regular gasoline accumulate six increases since the beginning of 2022. Diesel, seven.
Read: Fuel and energy prices will continue to rise in the country
Hydrocarbon experts explained that the Russian invasion of Ukraine caused an increase in international oil prices. The Texas price, known as TWI and the reference price for Nicaragua, was 115.68 dollars per barrel, a maximum reached in September 2008.
“The international market with everything that is happening in Russia is skyrocketing. That means I can’t tell you how much the average price will be for March. The increases are due to the war, but the fact that the Organization of Petroleum Exporting Countries (OPEC) maintains production quotas has contributed a little”, said the specialists.
According to the same sources, the United States Department of Energy publishes a monthly forecast for the current month on the hydrocarbon sector, which is useful to know where oil and its finished products are going to go, however, they clarified that this can change due to unforeseen events such as the war in Ukraine.
The rise in prices in the hydrocarbon sector in Nicaragua is announced a week after the military incursion of the Russian Federation in Ukraine, which has been condemned by the international community. Among Russia’s allies in the region is the dictator Daniel Ortega who even publicly backed the sending of Russian troops.
What’s more: Diesel in Nicaragua registers price never seen before
In recent days, specialists consulted by CONFIDENTIAL They said that the foreseeable ups and downs of international oil prices caused by the Russian war will affect the price of fuel and the cost of the electricity bill.
In Nicaragua, 30 percent of the energy consumed in the country is thermal, that is, produced with petroleum derivatives. On March 4, the expert in the energy industry, Patricia Rodríguez, said that “oil unfortunately moves with the ups and downs of world politics, so it affects us considerably, especially in prices.”
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