Africa-Press – Cape verde. Fuel prices rose again this Wednesday, June 1st, by around 5%. The new prices are valid until the 30th of June, time of the new update.
The update made by the Multisectoral Economic Regulatory Agency (ARME), recalls that in March the Government decided to temporarily suspend the application of the fuel pricing mechanism, in force from 1 April to 30 June 2022, at the under article 3, no. 1, of Resolution No. 28/2022, of 25 March.
In this sense, the public sale prices for the month of June, for Butane, diesel electricity, Fuel Oil 180 and Fuel Oil 380 will be fixed considering the levels in force in the month of May, while gasoline, normal diesel, marine diesel and oil, the upward adjustment limit is set at 5%.
With the exception of Butane, a partial fraction of the deficit generated in May and allocated to the staggered recovery system is added to the expected product values.
new prices
Thus, according to the new price list, normal diesel will be sold at Esc 153.40/litre, gasoline at Esc 190.70, oil at Esc 134.80, diesel for electricity at 117, 60 escudos, marine diesel at 115.70 escudos, Fuel 380 at 104 escudos/Kg and Fuel 180 at 109.10 escudos/Kg.
Butane gas, according to ARME data, maintains its prices and continues to be sold in bulk for 177.10 escudos/kg, with 3kg bottles at 505.00 escudos, those with 6kg at 1062 escudos, those with 12.5kg at 2213 escudos and those from 55kg at 9739 escudos.
“Thus, in the domestic market, under the provisions of Order No. 8/2022, Butane maintained its price. As for Electricity Diesel, Fuel Oil 180 and Fuel Oil 380, there was an increase of 2.3%, 1.5% and 1.4%, respectively, while gasoline, oil, normal diesel and marine diesel rose 5%. The sum of all these records corresponds to an average increase in fuel prices of 3%”, reads the note.
Homologous comparisons
In relation to the same period of the previous year, it can be seen that the average variation in fuel prices corresponds to an increase of 54.4% and, in relation to the average variation over the current year, it translates into an increase of 10%.
The rise in oil prices was mainly due to the devaluation of the dollar, market reactions to the new package announced by the European Commission, aimed at expanding economic sanctions on Russia, for the total impediment of oil imports.
ARME also explains that the reduction of confinement in China, due to the pandemic, the possible entry of Finland and Sweden into NATO and the drop in US stocks also contributed to this rise.
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