Cape Verde Fuel Prices Surge Amid Middle East Conflict
Fuel prices in Cape Verde have surged to multi-year highs this June, as the archipelago continues to grapple with the economic ripple effects of the ongoing three-month conflict in the Middle East. Gasoline and diesel costs have reached their highest per-liter levels in years, according to the latest figures released by the national regulatory agency.
Gasoline and Diesel Hit Record Levels
As of June 1, gasoline is priced at 163.2 escudos per liter (€1.48), while diesel has risen to 137.1 escudos per liter (€1.24). Since March, prices for both fuel types have climbed by a staggering 26%.
Despite these sharp increases, the regulator noted that the situation could have been significantly worse. Without a government “brake” mechanism—a decree that imposes adjustment limits and establishes compensation for suppliers—prices would have soared by 40% over the same three-month period.
Stability for Cooking Gas
While transport fuels are seeing record highs, there is a reprieve for households. The price of a standard 12.5-kilogram cylinder of cooking gas remains unchanged at 1,804 escudos (approximately €16), maintaining the same price point recorded in April.
Long-term Outlook
The monthly price updates in Cape Verde remain highly sensitive to international energy markets. As the geopolitical situation in the Middle East remains volatile, the government’s subsidy and compensation mechanisms remain the primary barrier preventing even more drastic spikes at the pump for Cape Verdean consumers.
Image: Pexels – Erik Mclean
