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Nicaragua extends price freeze on fuels

Fuels for transportation and food preparation have been frozen in Nicaragua since the beginning of last April.

TODAY NICARAGUA (EFE) The Government of Nicaragua extended by one week the period for freezing the prices of fuels used for transportation and food preparation, to avoid the impact of increases at the local level, reported Saturday the Nicaraguan Institute of Energy (INE) and the Ministry of Energy and Mines.

Fuels for transportation and food preparation have been frozen in Nicaragua since the beginning of last April.

The freeze, which will remain in effect until at least next Friday, October 28, will allow the cost of a U.S. gallon (3.78 liters) of super gasoline to remain at US$5.13 dollars; regular at US5.01 dollars, while diesel will remain at US$4.53 dollars.

The prices of Liquefied Petroleum Gas (LPG), which will also remain frozen.

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Fuels for transportation and food preparation have been frozen in Nicaragua since the beginning of last April.

The INE stressed that the objective of freezing fuel prices is to “mitigate the impact of the increase in these prices on the economy of Nicaraguan families.”

The measure of freezing fuel prices costs the State of Nicaragua between US$4 and US$6 million dollars each week, according to the Government.

Nicaragua has a fund of US$200 million dollars as part of a line of credit of up to US$800 million dollars, arranged by the Central American Bank for Economic Integration (CABEI) to finance a regional support program in the face of the global rise in prices of fuels.

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