Africa-Press – Cape verde. All fuels will become more expensive from October 1st. Price increases are widespread, there was an average increase of around 5.82 percent, according to the new maximum price table set by the Multisectoral Economic Regulatory Agency (ARME).
According to the price list note, normal diesel to be sold at 146.30 ESC/L; gasoline to be sold at 160.00 ESC/L; oil, to be sold at 160.50 ESC/L; diesel for electricity, at 132.60 ESC/L; Marine diesel now costs 114.80 ESC/L. The Fuel 380 will now be sold at 95.80 ESC/kg and the Fuel 180 will be sold at 100.20 ESC/kg.
In turn, butane gas is now sold in bulk for 150/60 ESC/kg; 3kg bottles being sold at 429.00 ESC; those of 6 kg, at 904.00 ESC; the 12.5 kg ones, at 1,883.00 ESC and the 55 kg ones, at 8,285.00 ESC.
“In percentage terms, in the domestic market, the prices of Butane, Gasoline, Petroleum, Normal Gas Oil, Electricity Gas Oil, Marine Gas Oil, Fuel Oil 180 and Fuel Oil 380 increased by 7.26%, 3.16% , 5.38%, 6.09%, 6.85%, 6.89%, 4.81% and 4.47%, respectively, which corresponds to an average increase in fuel prices of 5.82 percent ”, indicates ARME.
Compared to October 2022, the average variation in fuel prices corresponds to a decrease of 8.31% and, in relation to the average variation throughout the current year, it corresponds to an increase of 9.48 percent.
According to ARME, the main reasons for this rise in oil prices have to do with the cuts in oil production by Saudi Arabia and Russia, extending until the end of this year, generating a deficit in global supply of 1.3 million barrels per day in the last quarter; low levels of shale oil production in the United States of America, which could fall to 9.393 million barrels per day in October, the lowest level since May 2023, and the increase in global demand for oil due to robust demand for this material -raw on the Asian continent.
However, he indicated that this increase was mitigated, above all, by fears of possible increases in reference interest rates, by Central Banks, to combat inflation, essentially driven by high energy prices.
The new maximum sales prices to the final consumer must be in force until October 31, 2023.
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