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Nicaragua Slashes Fuel Prices
Nicaragua reports sizable fuel
price cuts, raising popular
hopes that the good news extend
to basic food supply.
For the joy of drivers, premium
gas fell to us$0.77 cents a
litre, the lowest price in two
years, diesel to us$0.65 cents a
litre and regular gas to us$0.74
cents a litre.
The price decline began four
weeks ago after fuels hit record
levels last August when special
gas was over us$1.20 dollars a
litre.
The Nicaragua Energy Institute
says prices fell since the
United States announced a
reserve improvement, making a
decline in price for oil from
the Gulf of Mexico, Nicaragua's
main supplier.
The local media says the
National Network in Defense of
Consumers hopes the decline will
extend to the family shopping
basket, bus fare and energy
tariffs.
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