Tuesday 4 October 2022

Big Drop In Gasoline Prices Expected For Next Month

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04 October 2022 - At The Banks - BCCR

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QCOSTARICA – Get ready for a big drop in gasoline prices, coming this way next month.

The  Autoridad Reguladora de los Servicios Públicos (Aresep) – regulator of public prices and services – confirmed on Monday that it will on September 11 start the process of price adjustment, that could mean a drop in ¢67 colones in the price of a litre of super gasoline; ¢58 in Plur or regular; but, an increase of ¢9 in diesel.

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The new prices should be in effect at the pumps across the country in about three weeks.

Carolina Mora, spokesperson for the Aresep, said the price adjustment is to reflect the lower prices and oversupply of gasoline products on international markets.

The Refinadora Costarricense de Petroleo (RECOPE) – Costa Rica’s refinery in fact does not refine anything, it purchase gasoline products for import and distribution in the country. The current average price for a barrel of gasoline is US$63.15 for super and US$60.05 for regular, a drop of US$17.48 and US$15.28, respectively, in August.

The dollar exchange could also influence the gasoline price process.

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