Thursday 11 August 2022

Coronavirus: Recope asks for a reduction of up to ¢34 in fuels

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11 August 2022 - At The Banks - BCCR

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The coronavirus pandemic, which has millions of people in their homes due for fear of contagion, continues to have positive effects on the pockets of consumers in Costa Rica, more particularly drivers.

On Friday, the Refinadora Costarricense de Petróleo (Recope) – Costa Rican Oil Refinery that refines nothing, imports finished product – requested a reduction in fuel prices.

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According to the request presented to the regulating authorities (Aresep), super gasoline would go from the current ¢606 to ¢580 per liter (¢26 less), regular (plus) from ¢583 to ¢555 (¢ 28 less) and in diesel from ¢498 to ¢464 (¢34 less).

The request is also for a drop in the price of other fuels, ie aviation fuel, kerosene, bunker fuel, LPG, etc

The new prices. when approved, would take effect in the first week of April.

Although what influences prices is the effect on international prices (in this case because there is less demand), in our country we have also noticed fewer cars on the streets thanks to the “teletrabajo” (work from home) measure implemented in public institutions and by some private companies.

This will be the second consecutive reduction in prices, at the beginning of this month super gasoline dropped ¢39, regular ¢40 and diesel ¢63.

Fuel prices are regulated in Costa Rica. Under the current formula, the Recope makes its request by the second Friday of the current month, to which the Aresep holds public hearings and reviews the technical report accompanying the request. The Aresep decision then is published in the La Gaceta, any changes in fuel prices taking effect within 5 business days of the publication.

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"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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