Cape Verde Fuel Prices Rise 7% in August 2024 surge
Motorists and households in Cape Verde are facing a significant pinch at the pump this month as fuel prices surge by an average of 6.86%. The price hikes, which took effect in August, impact everything from vehicle fuels to cooking gas, according to the latest figures released by the Multisectoral Regulatory Agency for the Economy (ARME).
New Prices at the Pump
The price adjustments reflect a broad upward trend across all major petroleum products. Petrol has risen to 168.10 escudos per liter (€1.52), while regular diesel is now priced at 157.60 escudos per liter (€1.43). Households will also feel the impact in the kitchen, as the cost of a standard 12.5-kilogram cylinder of butane gas has climbed to 1,770 escudos (€16.05).
Market Pressures and Import Reliance
ARME officials noted that the price fluctuations follow volatile trends in international energy markets. Because Cape Verde imports 100% of its fuel supplies, the island nation remains highly vulnerable to global shifts in oil prices and supply chain disruptions.
A Growing Trend of Rising Costs
The latest increase highlights a sharp upward trajectory in energy costs over the past year. When compared to August 2025, the average variation in fuel prices represents a staggering 29.05% increase. Throughout the current year, prices have already risen by an average of 22.81%.
As the national regulator, ARME reviews and sets the maximum retail price for all fuel types on a monthly basis to reflect the changing costs of acquisition in the global market.
Image: Pexels – Erik Mclean
