Q COSTA RICA — Fuel prices in Costa Rica do not increase on a fixed seasonal schedule; instead, they fluctuate monthly based on global oil markets and a strict national regulatory process.
The timing of a price change—whether it is an increase or a decrease—depends on when the Refinadora Costarricense de Petróleo (RECOP)—the state refinery that refines nothing—submits data and when the regulatory authority officially publishes the changes.
In the case of an increase, a sharp one like this event, the notice is published in the official government gazette, La Gaceta, almost immediately following approval by the regulatory authority, the Autoridad Reguladora de los Servicios Públicos (ARESEP), taking effect the following day. But not so fast when dealing with price reductions.
Thus, at 12:01 am this Saturday, at all fueling stations across the country, the price of a liter of diesel increases by ¢97 colones, going from ¢688 to ¢785; regular gasoline increases by ¢12 colones, from ¢707 to ¢719; and super gasoline increases by ¢38 colones, from ¢726 to ¢764.
All other fuel prices, such as LPG, aviation fuel, kerosene, etc., will also see an increase.
When diesel prices jump sharply—as they do tomorrow, surpassing gasoline prices—the increase sends ripple effects throughout the country: public transportation (buses), heavy cargo fleets, and shipping trucks; the agricultural sector that relies heavily on diesel-powered machinery, tractors, and irrigation systems; construction equipment, fishing boats, and some industrial operations.
Diesel prices affect nearly every part of Costa Rica’s economy.