Next week, a reduction of ¢9 colones for a liter of super gasoline and ¢5 for regular will take effect. At the same time, a liter of diesel fuel will increase ¢5.

This will be the third consecutive reduction in gasoline prices approved by the Autoridad Reguladora de los Servicios Públicos (Aresep), the regulator of prices and services in Costa Rica.

The reduction takes effect the day following the publication in the official government newsletter, La Gaceta next week.

When in effect, the prices for a liter of gasoline will drop from the current ¢584 to ¢575 for super; from ¢559 to ¢554 for regular, while the price of diesel will go from ¢443 to ¢448.

The reduction will also be in ¢1 colon per liter for natural gas, mainly used in kitchens across the country. The change in price is from ¢266 to ¢265.

Thus, the price for 25 pound cylinder will go from ¢6,959 to ¢6,946.

The reduction follows a request by the Refinadora Costarricense de Petróleo (Recope) based on a drop of international prices for oil and an increase in refining activity in the United States, which has caused an excess in supply and increase in inventory compared to the previous month.

On August 11 (the second Friday of the month), Recope will again request another adjustment in fuel prices, based on the current methodology of price calculations.

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