Saturday 25 September 2021

Drop In Gas Prices A Slow Process in Costa Rica

Paying the bills

Latest

Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...

Vaccinations face unfounded fears over AstraZeneca dosages

QCOSTARICA - The goal of immunizing 500,000 people over...

There are potholes and then there are potholes!

QCOSTARICA - Imagine your vehicle being devoured by a...

Today’s Vehicle Restriction September 25: “EVEN” ending plates CANNOT circulate

QCOSTARICA - For today, Saturday, September 25, vehicles with...

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

QCOSTARICA - The political fractions, except that of the...

No National Census in 2022!

QCOSTARICA - The Instituto Nacional de Estadística y Censos...
Paying the bills

Share

TICOBULL – While gasoline prices fall, in Costa Rica it could be at least two more months before the drop in prices is reflected at the pumps.

This due to a process in Costa Rica where  the state refinery that doesn’t refine anything, RECOPE. has to first to submit a request to the government regulator, the Autoridad Reguladora de Servicios Publico (ARESEP), which will then analyze the proposal, hold public meetings and if it agrees, order a price change, and then up to five working days for it be published in La Gaceta, the official government digest.

Only after this process is completed can prices change at the pumps.

- Advertisement -

When gas prices kept increasing, the process worked to our (the consumer) advantage. But, now that price of crude oil has fallen below US$50 a barrel, for the first time since May 2009, it is costing us. Literally.

Also, the higher prices seem to rise like a rocket when the oil price goes up.  However, they only drift down slowly, like a feather, when the oil price comes down, much to the benefit of suppliers, in this case RECOPE, the only supplier of gasoline products in the country.

In most countries, people can shop around, finding deals on gasoline prices, benefiting from the competition among the energy companies.

In Costa Rica there is no competition, RECOPE is the sole importer of gasoline; retailers buy from RECOPE and sell to the consumer, at wholesale and retail prices set by the ARESEP.

- Advertisement -
Paying the bills
Ricohttp://www.theqmedia.com
"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.

Related Articles

Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights to and...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk factors died...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.