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QCOSTARICA – The new year could bring a big reduction in gasoline prices, the biggest in the last 12 months.

The Autoridad Reguladora de los Servicios Públicos (Aresep) is processing a request for a drop in of ¢88 colones for a litre of super, ¢80 for regular and ¢67 for diesel fuel.

If approved, the new prices at the pumps drop to ¢601 from the current ¢689 for super, to ¢575 from ¢655 for regular and to ¢540 from ¢607 for diesel, said Carolina Mora, spokesperson for the Aresep.

Mora explained the reduction is based on declines in oil prices in the international market in recent weeks.

The new, lower prices could go into effect in the second week in January.