The Public Services Regulatory Authority (Aresep) has given its approval for a decrease in the price of gasoline.

Aresep is the public organization in charge of setting the price of public services.

Recope, the State-owned organization responsible for importing, distributing, and pricing fuels in Costa Rica, has announced that the cost of fuels will be adjusted due to a reduction in fuel tax.

According to authorities, another factor of fuel cost is the dollar-colones exchange rate which has decreased from Sept. 8 to Oct. 12 (from ₡540 per $1 to ₡530 per $1) which was the time of imported oil that is now distributed across the country's fueling stations.

The new prices will be as follows:

• Super gasoline decreased to ₡807 colón per liter, about $1.52.

• Gasoline Plus 91 (regular) decreased to ₡751 colón per liter, about $1.41.

• Diesel decreased to ₡714 colón per liter, about $1.34.

• Liquefied petroleum gas (LPG), the price remains at ¢6,893 colón per 25 kg (55 lb) gas cylinder, about $13.

The new rates go into effect today. The new prices have been approved and have already been published in the official government newspaper La Gaceta.

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