Tuesday 7 February 2023

Drop of ¢102 in diesel subsidized by gasoline comes into effect today

The Regulatory Authority reported that a new methodology was applied to set the price of gasoline

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7 February 2023 - At The Banks - BCCR

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QCOSTARICA – In the, “I can’t remember if and when this has ever happened” department, the price of fuels drops while the regulatory authority processes the monthly adjustment.

The reduction of ¢102 colones in a liter of diesel and ¢2 colones in super and regular gasoline will take effect today, Friday, June 17, after its publication in La Gaceta on Thursday, after the Autoridad Reguladora de los Servicios Públicos (Aresep) approved its publication the day earlier.

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In this way, a liter of diesel will go from ¢1012 to ¢910, the liter of super from ¢1062 to ¢1060 and the liter of regular from ¢1024 to ¢1022.

The reduction is based on the change in the methodology in setting fuel prices, which eliminates the use of international reference prices and, instead, uses the acquisition prices of the products purchased by the Refinadora Costarricense de Petróleo (Recope) – the Costa Rican Oil Refinery that refines nothing.

This change makes it possible to reflect the prices actually paid and not the international market prices.

In play are also two decrees of the government of Rodrigo Chaves to apply the reduction to diesel, that is its price at the pumps subsidized by gasoline, given “the impact of the price of diesel fuel in the productive and most vulnerable sectors of the country”.

The decrees prevented a drop of ¢88 colones in the price of super gasoline and ¢76 colones for regular.

Despite this decrease, fuels remain at the highest prices recorded since the existence of ARESEP.

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