Tuesday 28 March 2023

Experts predict fuel prices will increase again mid-December

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25 March 2023 - At The Banks - BCCR

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QCOSTARICA – Enjoy the lower fuel prices so that if the prediction becomes reality, we can see one more drop before prices start going up again, most likely by mid-December.

Given Costa Rica’s model for setting fuel prices, increases or reductions in the international price of fuels and exchange rate, the trends in the outside markets where the beloved RECOPE, the Costa Rican refinery that refines nothing, makes its purchases, are not reflected until weeks or even months later.

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Currently, the reference price of fuels used by our country increased by up to 5% in recent weeks.

Currently, a liter of super gasoline in Costa Rica is ¢846, regular ¢807, and diesel ¢865.

These amounts are equivalent to some ¢4,000 lower today than was weeks ago to fill an average tank of a typical automobile.

Economists recommend putting aside – saving – for when the new increases arrive.

 

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