Published Monday, November 9, 2020

Just two weeks of low gas prices before the government, through the Public Services Regulatory Authority, ARESEP, announced an increase in fuel prices which started on Saturday.

Even the authorities announced a reduction in gasoline prices on Oct. 28. According to ARESEP, the price of fuels increased due to the collection of the tax on hydrocarbons.

The new rates are as follows:

• Super gasoline increased to ₡ 572 colones (about 96 U.S. cents) per liter.

• Gasoline Plus 91 (regular) increased to ₡ 547 (about 92 U.S. cents) per liter.

• Diesel increased to ₡ 441 (about 74 U.S. cents) per liter.

The approval of the new prices was published in the official government newspaper La Gaceta.

In April, the deputies of Congress approved the bill No. 21.909, entitled "Law for the protection of working people." This law allows the freezing of fuel prices. The bill passed with 50 votes for and 1 against it.

The goal was to raise ₡27 billion colones, approximately $47,706,354, to benefit 75,000 families across the country through an aid bonus.

The law froze the price of fuel for three months, from May to July, this way the excess in the price of fuels sold in Costa Rica was saved because of the global drop in oil prices.

The profit on fuel price was collected by the Costa Rican Oil Refinery, RECOPE, and transferred to the Ministry of Finance, within the first five business days of each month.

The law, if needed, can extend the freeze for three more months, the Congress said in its statement.


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Should the gas price freeze be extended to help those in need after Eta? We would like to know your thoughts on this story. Send your comments to news@amcostarica.com