Managua, March 19, 2022. The government of Nicaragua has activated a fuel price freeze.
Currently, the international price of crude oil has been affecting fuel prices in Nicaragua, which in turn has impacted the average Nicaragua family as well as various business sectors.
The price of crude oil has gone from an average of US $52.1 per barrel in January 2021 to US $107.9 per barrel this month, March 2022.
In relation to the fuel price freeze, the government of Nicaragua has announced that;
Last week, March 13th to 19th, 2022, there were no formal increases applied to the various petroleum derivatives as prices remained without adjustment.
This week, March 20th to 26th, the government has instructed the Nicaraguan Institute of Energy (INE) that the prices of gasoline, diesel and liquefied petroleum gas will remain the same, without any adjustment.
The government of Nicaragua will continue to permanently monitor the behavior of international prices and the rest of the variables that affect the fuel prices in Nicaragua and the corresponding actions and measures will be taken to mitigate the impact of the increase in these prices in the economy of Nicaraguan families.
Note:
The consumer price of Liquefied Petroleum Gas (LPG or Propane) is usually regulated by the government of Nicaragua through the INE, largely due its impact on the average Nicaraguan family budget due its use in cooking.
However, the government does not usually directly regulate the consumer prices of petroleum products such as gasoline, diesel and kerosene and has in the past preferred to allow “free market prices” to prevail.
The last official “Fuel Price Monitoring” carried out by the INE was on March 14th, 2022. They conducted the usual survey of Gasoline, Diesel and Kerosene at 70 Service Stations in the (E/S) located in the City of Managua.
The fluctuations in prices this year include; seven increases and one decrease in the price of regular and super gasoline. The price of diesel has gone up eight times and kerosene ten times.
