For the second consecutive week, the prices of gasoline, diesel and liquefied gas will continue to be frozen, as reported by the Daniel Ortega regime through the Nicaraguan Institute of Energy (INE) and the Ministry of Energy and Mines.
According to the Government of Nicaragua, “it will assume 100 percent of the planned increase between April 17 and 23. “According to international prices, the price of Diesel for the following week should increase by 16.32 C$ per gallon, however, our Government has decided not to increase said price and assume 100% of said increase,” the statement said. of April 15.
As for liquefied gas, which is what is used for cooking, its price —according to the Nicaraguan regime— should increase in the order of C$30.00 for each 25-pound cylinder, “however, the Government has decided to assume 100 % of this increase, so that the liquefied gas will not have any change in its price for the presentations of 10 pounds, 25 pounds and 100 pounds.
Despite the fact that fuels have been getting more expensive since 2020 and that it almost reaches 50 cordobas per liter, the Ortega government assures that it is “concerned about the impact that these prices have on the family economy and the economic sectors of the country.”
“Our Government of Reconciliation and National Unity will henceforth continue to permanently 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”, they emphasize.
Current fuel prices
The foregoing indicates that gasoline and diesel would maintain the prices of the corresponding week from April 3 to 9, when the super gasoline Y regular increased 1.33 cordobas per liter.
For liter the super gasoline is currently trading at 49.03 cordobasregular 47.84 córdobas, while diesel, the most consumed fuel in the country, is bought from 43.16 cordobas.
For gallonthe super gasoline it has a price of 185.57 cordobas, the regular 181.07 and diesel costs 163.36 cordobas. That week will remain the same, starting at zero hours tomorrow, Sunday, April 17.
During the celebration of Holy Week, prices did not change, however vehicle owners say that their pockets are affected by high costs.
For Rubén Arriola, from Consumer Management Consulting, this measure is a momentary relief for Nicaraguans, “because if they —the Ortega government— are going to assume 100 percent of oil derivatives without any discount, Solomonic is the measure (…) because it comes to solve a little the economic crisis of all families ».
The expert explained that given the constant rises in fuels, a reform of the Hydrocarbons Law, Law 277, is urgently needed, “so that in this way prices can be controlled more directly.”
He added that the most viable thing would be that of the four taxes that hydrocarbons have, “at least eliminate two, since this would lower the cost of fuel in Nicaragua and the benefit would be greater.”
“On a global level, the prices of a barrel of oil are increasing, that makes economic stability in underdeveloped countries like ours recently in this crisis,” he explained.
The price of Brent oil rose this April 15 to 111.60 dollars, while the WTI increased to 106.54 dollars. “The price of crude oil rose almost +4% despite a strong accumulation of inventories in the United States,” oil sources detail.