Cabo Verde: Butane price frozen, petrol, diesel limited to 5% rise

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Cabo Verde: Butane price frozen, petrol, diesel limited to 5% rise

5:00 CAT | 25 Mar 2022

File photo: Lusa

The Cabo Verdean government announced on Friday a freeze on butane gas and electricity prices for three months, with the rest rising 5%, compared to a rise of at least 25% that was expected.

“The government of Cabo Verde declares the temporary suspension, for three months, from April to June, of the application of mechanisms for fixing fuel prices,” (…) “In this sense, the update of the maximum retail prices for April, remain fixed, at current levels, in force in March, for some products, such as butane and fuels for electricity production,” Energy Minister Alexandre Monteiro announced.

In a joint press conference with the minister of agriculture, at the Government Palace in Praia, to announce measures to mitigate and freeze prices of fuel and agri-food products, in the face of international increases caused by the war in Ukraine, decided this morning at a cabinet meeting, the minister added that “the limit on the rise for other regulated fuel prices” would be set at 5% from April.

“As a maximum limit in terms of increase,” he stressed, in a measure that will apply specifically to diesel and petrol.

The average fuel price has risen by over 4% this month in Cabo Verde, in line with maximum values set – as happens every month – by the sector’s regulatory agency.

Electricity tariffs, which are also affected by fuel prices – Cabo Verde depends on diesel power plants to generate electricity – increased by an average of 30% last October.

Source: Lusa