Cape Verde Fuel Prices Rise 4.4% in May Amid Subsidies
Fuel prices in Cape Verde are set to rise by an average of 4.4% throughout May, according to the latest announcement from the Multisectoral Economic Regulatory Agency (ARME). While residents will feel the pinch at the pump, the increase is significantly lower than it could have been, thanks to ongoing government interventions designed to shield consumers from volatile international markets.
Government Intervention Softens the Blow
The regulatory authority revealed that without the current suspension of the standard price-fixing mechanism, Cape Verdeans would have faced a staggering average price hike of 42.18%. By maintaining these mitigation measures, the government has managed to absorb the majority of the price pressure caused by rising global oil costs.
What Consumers Will Pay
Starting this month, the updated price table establishes new rates for essential fuels:
- Gasoline: 151.1 escudos per liter (€1.37)
- Diesel: 126.9 escudos per liter (€1.15)
- Cooking Gas: A 12.5-kilogram cylinder will hold steady at 1,804 escudos (€16.36)
Despite the slight upward trend this month, ARME noted that fuel prices remain below the record peaks seen two years ago. Cooking gas also remains cheaper than the high-water mark recorded in March 2025.
Global Conflict Driving Costs
ARME identified the primary driver behind the April oil price surge as the “escalation and persistence of the conflict in the Middle East.” The regional instability continues to weigh heavily on international supply chains, impacting energy costs for the Atlantic archipelago.
Image: Pexels – Marcio Skull
