Nicaragua Extends Freeze on Fuel Prices for Another Week
Nicaragua Extends Fuel Price Freeze until 14th January 2023
The Nicaraguan Ministry of Energy and Mines (MEM) and Nicaraguan Institute of Energy (INE) announced the extension of fuel prices until the 14th of January 2023, which had been frozen since April 2022.
The extension of the fuel prices freeze is meant to keep the costs of family consumer products stable. The cost of superior gasoline, used in light vehicles, is at 5.13 dollars a gallon and for regular gasoline, used in old cars and SUVs, is 5.00 dollars a gallon; while diesel, used in cargo and collective transportation, is at 4.52 per gallon (3.78 liters).
The costs of Liquified Petroleum Gas (LPG), used in kitchens, will depend on the size of tanks and area of the country where it is being sold.
As part of a regional credit line, Nicaragua has a fund of 200 million dollars arranged by Central American Bank for Economic Integration (CABEI) to finance their support program in the face of the global rise in prices of the fuels.
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