Saturday 2 July 2022

ARESEP approves increase of gasoline prices

Fuels in Costa Rica reach the highest prices ever

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QCOSTARICA – The Autoridad Reguladora de los Servicios Públicos (ARESEP) – Public Services Regulatory Authority – approved an increase of ¢57 for a liter of super gasoline, ¢56 for regular and ¢53 for diesel.

Fuels in Costa Rica reach the highest prices ever

With this increase, fuels in Costa Rica reach the highest prices since ARESEP has existed, for some 25 years.

In this way, a liter of super goes from the current ¢765 to ¢822, regular from ¢748 to ¢804 and the diesel from ¢671 to ¢724.

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The increase is based on the request made by the Refinadora Costarricense de Petróleo (RECOPE) – Costa Rica Refinery that refines nothing – earlier this month.

The price adjustment will come into force the day after its publication in the Official Gazette, which could be as early as mid-week, next week.

But the worst is yet to come.

The RECOPE will be making its monthly request for fuel prices adjustments to the ARESEP, on Friday, March 11, where we can expect another major increase due to the upward trend in the international price of oil and pressure on the dollar exchange rate.

Erick Ulate, president of Consumers of Costa Rica, pointed out that government measures are urgently needed to mitigate the impact of the conflict between Russia and Ukraine on fuel prices.

This week, the Costa Rican Oil Refinery (RECOPE) announced that the conflict in Ukraine will “seriously” impact fuel prices.

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