Government of Nicaragua will absorb increase in fuels | News

The Government of the President of Nicaragua, Daniel Ortega, informed the population this Friday that it will assume 70 percent of the increase in gasoline and diesel prices, while liquefied gas will maintain its monetary value stable.

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In a statement issued jointly with the Ministry of Energy and Mines and the Nicaraguan Institute of Energy, the Government indicated that the authorities will carry out a continuous analysis of the behavior of international rates around the price of fuel.

He specified that the Government of Reconciliation and National Unity will act with pertinent strategies and measures in order to lessen the impact on the family economy of the international increase in prices in these strategic sectors.

The Executive mentioned that, from last January 2021 to the current month of 2022, the international price of oil has increased by 109.2 percent. In that period, the barrel of crude went from 52.1 dollars to 109 dollars, on average.

“Nicaraguan families and economic sectors are informed that in the week that passed from March 13 to 19, 2022 and in the current week that runs from March 20 to 26, in which considerable increases resulting from international prices should be applied of oil, they were not applied, leaving the prices without any adjustment”, the statement detailed.

He pointed out that for the week from March 27 to April 2, “the Government of Reconciliation and National Unity in support of Nicaraguan families, will be absorbing 70 percent of these increases in the case of gasoline and diesel. And it will be maintaining the prices of liquefied petroleum gas, which is what Nicaraguan families use to prepare food, without any change.”