Friday, 30 October 2020

Aresep approves lower fuel prices, but there will be no reduction in the price at the pumps

Fuels, except for regular and super gasoline, will see a drop at the conusmer level sometime next week

The Autoridad Reguladora de los Servicios Públicos (Aaresep) – Regulatory Authority of Public Services – approved a decrease in fuel prices, except for super and regular gasoline, which will maintain its March 4 prices, the difference to be used by the government to fund the subsidy for people affected at work by the health crisis.

While all other fuel prices will drop, regular and super will maintain their March 4 pricing

The drop in prices reflects the decrease in prices of fuels in international markets, from which Recope purchases and imports to Costa Rica, due to a reduction in demand for crude oil,  due to the spread of COVID-19 and the excess supply, where there are no longer systems for its storage. The price of a barrel of oil was quoted at the beginning of this week was – US$37.

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In accordance with the provisions of the recently approved Ley 9840, regular and super gasoline prices will maintain the same, while diesel will have a decrease of ¢63 per liter, as will other fuels. See here current fuel prices at the pumps.

The resolution will take effect the day after its publication in the official newspaper La Gaceta, which is to occur within five working days.

 

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Q Costa Rica
Reports by QCR staff

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