Monday 6 February 2023

Drop in gas prices on the way

Reduction approved on Friday will be felt at the pumps next week; another drop expected by the end of the month

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QCOSTARICA – On Friday, the regulatory authority, the Autoridad Reguladora de los Servicios Públicos (ARESEP), approved a drop in fuel prices that will most likely be felt at the gasoline pumps across the country possibly as early as Tuesday.

In addition, Costa Rica’s refinery that refines nothing, the Refinadora Costarricense de Petróleo (RECOPE), made a request for a further drop in fuel prices that could be at the pumps by the end of the month.

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In the first, the ARESEP set the price ¢748 from ¢821 of a liter of super gasoline, while that of diesel will be reduced from ¢846 to ¢750. Meanwhile, regular gasoline would rise ¢3, from ¢783 to ¢786.

In the second, the RECOPE is requesting a drop of ¢116 for a liter of regular gasoline and ¢26 for super. In the case of diesel, the request proposes an increase of ¢7 colones per liter.

The RECOPE reduction request, if approved, would most likely be reflected at the pumps by the end of the month

The reductions also affect, downward, the price of LPG

According to the regulatory authority, given that the last few months there has not been a significant drop in regular prices, the trend is for consumers to fill with super.

“RECOPE still has an inventory of regular gasoline that it bought at a higher price (…),” said the ARESEP in a statement.

The decrease in the price of diesel and super gasoline is due to reductions in the international market and the drop in the dollar exchange with respect to the colon.

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