Africa-Press – Cape verde. Fuel prices fell considerably as of midnight on Monday, August 1st, according to the new maximum price table released this afternoon by the Multisectoral Economic Regulatory Agency (ARME).
According to the new price list, gasoline will be sold at ESC 166.60/L, oil at ESC 179.40/L; normal diesel at 170.10 ESC/L, diesel for electricity at 161.10 ESC/L, marine diesel at 135.70 ESC/L, fuel 380 at 121.20 ESC/KG and fuel 180 at 126, 50 ESC/KG.
Butane gas is now sold in bulk for ESC 153.80/KG, with 3KG bottles at Esc 438.00, 6KG at Esc 923.00; those of 12.5Kg at 1922.00 Escudos and those of 55Kg at 8458.00 Escudos.
Thus, on the domestic market, the prices of Butane, Gasoline, Petroleum, Normal Gas, Electricity Gas, Marine Gas, Fuel Oil 380 and Fuel Oil 180 fell by 8.34%, 11.85%, 11.49%, 6.18%, 10.65%, 10.96%, 10.09% and 10.28%, respectively.
All these percentage values added together correspond to an average decrease in fuel prices of 9.98 percent.
When compared with the same period last year (August 2021), the average change in fuel prices corresponds to an increase of 61.4% and, in relation to the average change over the current year, it corresponds to an increase of 15.2% Percent.
During the month of July, said ARME, there was some volatility in the prices of Brent oil in international markets, recording average decreases of 11.69% (102.23 USD), when compared to the month of June (115.77 USD) .
The main reasons for the drop in oil prices in July have to do, precisely, with the market’s reactions to the appreciation of the dollar, the fear of possible new confinements in China, as a result of the mass tests carried out to mislead the coronavirus cases.
ARME also said that the resumption of operation and operation of the Nord Stream 1 gas pipeline; and the existing uncertainty regarding the risk of a global recession due to inflationary pressures, which led the European Central Bank to raise the refinancing rate from 0% to 0.5%, as a way of combating the sharp rise in prices.
This decline was mitigated, according to the same source, above all, also by the American Federal Reserve’s announcement of new economic sanctions on entities linked to the oil industry in Iran and Belarus and by the drop in North American oil stocks.
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