Praia, Cape-Verde - Fuel prices were lowered Tuesday in Cape Verde following the average increase of the cost of oil by-products on the international market over the past few months, sources close to the country's Economic Regulation Agency (ARE) revealed.

According to ARE, the litre of petrol currently costs 171.10 escudos (1.55 euros) or a drop of 4.63 per cent, while that of gasoil stands at 122.30 escudos (1.10 euro), which represents a drop of 3.17 per cent.

ARE has also established the new prices of gasoil for the production of electricity, fuel and gas, with reductions ranging  between 2.33 and 6.16 êr cent.

These are the first reductions of fuel prices recorded this year in Cape Verde where prices are set by ARE every other month, depending on the evolution of the cost of oil by-products on the international market.

Pana 10/08/2011