Regulator of public prices and services approved hike in gasoline prices that will most likely will take effect his week

Q COSTA RICA NEWS – With the start of the new year comes, you guessed it, a hike in gasoline prices. On Tuesday, the Autoridad Reguladora de los Servicios Públicos (Aresep) confirmed a hike in the cost of fuel, expected to take effect at the pumps by then end of this week, of ¢48 colones for a litre of diesel, ¢37 for regular and ¢30 for super.

The approved hike was requested in December by the state refinery, the Refinadora Costarricense de Petróleo (Recope).

Aresep energy manager, Mario Mora, said the approval has already been sent for publication to La Gaceta, the official government newspaper, that is required to publish it within five business days. The prices at the pump will take effect the day following publication.  (Q prediction is a Friday publish, just in time for the weekend).

The new prices at the pumps will be ¢562 colones (up from the current ¢525) for a litre regular; super goes to ¢592 (from the current ¢562); and a litre of diesel will cost ¢475 (up from the current ¢427).

What the hike means that an average driver in an average car with an average 45 litre fuel tank will be paying in a few days ¢2,160 more than today for a fill up.

All other types of fuels, such as natural gas (used in kitchens and restaurants across the country) and aviation fuel, are also going up.

But wait, there’s more bad news. Recope says we can expect another fuel hike request later this month, possibly between ¢7 and ¢10 colones. The good news is that, based on the Aresep model of price adjustments, that hike won’t take effect until February.

According to Recope, the price hike is justified to a recent increase in the international price of oil.

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