Vol.18  No.1217 Monday Edition, December 17, 2018 Third news page
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RECOPE announces reduction in price of fuel


By A.M. Costa
Rica staff

The Costa Rican Petroleum Refinery, RECOPE, filed a request for a reduction in the price of fuels with the Public Services Regulatory Authority. The new price would take effect in the month of January.

New prices per liter would be as follows:
- Super gasoline will drop ₡40 to
597
- Plus91 gasoline will come down by
44 to 582
- Diesel will decrease by ₡54 to
533

RECOPE has stated that the fall in crude oil prices in the international market and the change in the colon/dollar rate are two factors that make it possible to request a reduction in the local fuel market.

RECOPE updates and/or adjusts the fuel prices in Costa Rica on the second Friday of each month.  The international price of each refined product (not oil) in the preceding 15 days and the variation in the colon/dollar exchange rate are both considered when adjusting the consumer price of the products.

According to the institution, the international market presented variations in prices in the following way:

1. Super Gasoline: in November the value was $75.36 per barrel and in December it decreased to $63.184; a decrease of $12.18 per barrel, equivalent to a reduction of 16.16 percent.

2. Gasoline Plus 91: in November the value was $73.18 per barrel and in December, $61.05; this generates a reduction of $12.14 per barrel, equivalent to a decrease of 16.58 percent.

3. Diesel 50: in November the value was $91.23 per barrel and in December $74.07; that is a reduction of $17.15 per barrel, which represents a decrease of 18.8 percent.

Fuel121718.jpg
A.M. Costa Rica wire services
photo

  The new price would take effect in
the month of January.


Additionally, the institution took into account a study of the value of the colon which showed an increase in the value of the colon in relation to the dollar. In November, the exchange rate was at ₡616.21. In December, the exchange rate was registered at ₡600.53 which represents a recovery of the colon of 2.54 percent.

RECOPE reported that this is the fourth reduction of the year for Plus 91 gasoline and diesel, and the fifth for super gasoline.


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