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New update marked by widespread rise in fuel prices

Ribeira Grande, Aug 1 Inforpress) – The Multisectoral Economy Regulatory Agency (ARME) announced on Wednesday the widespread rise in fuel prices from midnight on August 1.

In the monthly statement released today, the ARME states that “average fuel prices in international markets, quoted in USD / ton, recorded generalized increases during July, in the order of 5.03% compared to June”. Thus, on the domestic market, gasoline is now sold at 128.30 ECV / L, normal diesel at 102.10 ECV / L, diesel for electricity at 86.90 ECV / L, marine diesel at 73.60 ECV / L, oil at 89,70 ECV / L, fuel oil 380 at 63,80 ECV / L and fuel oil 180 at 69,20 ECV / L.

The same source indicates that butane is now sold in bulk for 119.20 ECV / KG, with 3 kg bottles now costing 340.00 ECV the 6kg ones now cost 715.00 ECV, the 12.5kg ones will be sold at 1,490.00 ECV and the 55kg ones at 6.556.00 ECV. In relative terms, in the domestic market, the prices of normal diesel, electricity diesel and marine diesel increased by 3.65%, 4.45% and 4.55%, respectively, the fuel oil 180 and fuel oil 380 increased by 5.17% and 5.63%, respectively, the gasoline rose 5.25%, oil 4.91% and butane 2.23%.

According to the ARME statement, the rise in oil prices during July is the result of the markets’ reaction to the prospect of the announcement of a cut in the US reference interest rate, the reduction in stocks US crude oil, the decision to extend the OPEC + agreement until the end of the first quarter of 2020 and the temporary suspension of production in the Gulf of Mexico due to the passing of tropical storm Barry.