Q COSTARICA — The war in the Middle East will translate into a sharp increase in fuel prices in Costa Rica at the beginning of May.
On Tuesday, the regulatory authority, Autoridad Reguladora de los Servicios Públicos (ARESEP)Public Services Regulatory Authority (ARESEP), announced a public hearing to discuss the potential price hike, highlighting the significant increase in regular gasoline, which will ultimately be more expensive than premium.
Regular gasoline is projected to increase by ¢122 colones per liter, while premium would see an increase of ¢82 colones. Diesel fuel, primarily used for trucking, is expected to increase by ¢134 colones per liter.
Other fuels such as LPG, aviation fuel, kerosene, bunker fuel, among others, will likely see increases.
With the arrival of May and the new government led by Laura Fernández, we will have to contend with a sharp rise in fuel prices, generating a domino effect that will spread throughout the economy, increasing the price of goods and services and impacting expectations for economic growth, exports, tourism, and even interest rates.