By
the A.M. Costa Rica staff
Public Services Regulatory Authority (known as
ARESEP) approved an increase in the price of fuel
that is effective as of today.
In the case of gasoline, super or regular, the
increase is ₡37 per liter (about $0.061), while in
diesel the increase is ₡16 per liter (about
$0.027).
Diesel now costs ₡602 per liter (about $1).
Super gasoline costs ₡618 per liter (about $1.03).
Regular gasoline costs ₡597 per liter (about
$0.99).
According to ARESEP, the increase is caused to an
increase in import prices, due to the production
cuts that continue to be applied by the
Organization of Petroleum Exporting Countries, as
well as the sanctions filed by the United States
against Venezuela and Iran.
Prices, however, did not rise more than had been
predicted due to reports regarding record
production and higher inventories in the United
States, along with reduced estimates around the
expected growth of global demand for fossil fuels.
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In addition, there was a decrease in the exchange
rate during the price review period. That is, the
colon strengthened ₡ 4.03 per dollar, with respect
to the data used in the previous fixation,
positively affecting the internal prices that are
expressed in colones.
According to the institution, the Costa Rican Oil
Refinery (RECOPE) makes a request for a change in
fuel prices every month.
The Public Services Regulatory Authority is a
public institution that regulates the prices of
public services.
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