The Refinadora Costarricense de Petróleo (Recope) – Costa Rican Petroleum Refinery, on Friday presented a request for a reduction in fuel prices to the Public Services Regulatory Authority (Aresep).

If approved, regular and super gasoline prices will drop ₡40 colones a litre, and diesel ₡63.

The new prices at the pumps, that will take effect in March, will see gasoline prices go from the current ₡645 to ₡605 for super; regular will drop from the current ₡623 to ₡583; and diesel will drop to ₡498 from the current ₡561.

Other fuels, such as liquid gas, aviation fuel, etc will also drop in prices.

In making the request, Recope said that during the study period (in January) there was stability on the status of the international price of the finished products that Costa Rica imports; on the other hand the Colon appreciated on the Euro.

In Costa Rica, gasoline prices are regulated.