Q COSTA RICA — The Autoridad Reguladora de los Servicios Públicos (Aresep)—Public Services Regulatory Authority—approved a ¢97-per-liter increase for diesel; the price will rise from ¢688 to ¢785—over US$6 a gallon—surpassing the price of gasoline once the new rate adjustment takes effect.
“Super” gasoline will increase by ¢38 per liter—from ¢726 to ¢764—while “Regular” gasoline will rise by ¢12, going from ¢707 to ¢719. Liquefied petroleum gas (LPG)—specifically the 70-30 blend—will increase by ¢4 per liter, rising from ¢259 to ¢263.
Regarding LPG for domestic use, the price of a 25-pound cylinder (typically used in home kitchens) will go from ¢7,071 to ¢7,172, an increase of ¢101.
Aresep explained that the adjustment is primarily due to rising international prices for the fuels imported by RECOPE, the state refinery that refines nothing.
Costa Rica sources 100% of its consumed finished fuels from abroad, leaving domestic prices exposed to fluctuations in international markets.
The regulator noted that diesel saw greater international price increases than gasoline during the period analyzed. Although diesel historically maintained a lower price—due in part to a lower tax burden—that gap has narrowed to the point where its price now exceeds that of gasoline.
Aresep detailed that the diesel price hike could particularly impact sectors that rely on it as a key input, such as public transportation, freight transport, and electricity generation via thermal power plants.
The new pricing also accounts for the differential between the price RECOPE pays to acquire products on the international market and the time it takes to recover those costs through sales within Costa Rica. The study covered shipments handled by the refinery between August 14 and September 10.
Aresep noted that the tariff methodology takes into account variables such as international prices, the exchange rate, taxes, and other components established by regulation. The institution will submit the resolution for publication, and the new prices will take effect at midnight on the day they appear in La Gaceta, the official government gazette. This usually happens within a few days of the official announcement.