Public Services Regulatory Authority (known as ARESEP) yesterday approved a new reduction in the price of fuel that is effective as of today.

The new prices are:

Diesel was reduced ₡53 colones, with a new price of ₡534 colones per liter ($0.88).

Gasoline super was reduced ₡41 colones, with a new price of ₡596 colones per liter ($0.98).

Regular gasoline was reduced ₡45 colones for a new price of ₡581 colones per liter ($0.96).

The institution stated that the reduction in the price of fuel is a response to the updating of the reduction in international prices.

"This adjustment includes the update corresponding to the price differential, which is calculated on a bimonthly basis, with an effect on the international prices of finished products for the months of September and October 2018," the institution said in a statement.

The Public Services Regulatory Authority is a public institution that regulates the prices of public services.