QCOSTARICA – As we reported last week, the Regulating Authority on Public Services (ARESEP) approved a whopping hike in gasoline prices, as requested by the Costa Rican refinery that doesn’t refine anything, the RECOPE.
Any increases or decreases in gasoline prices approved by the ARESEP take effect the day following the publication in the official government newsletter, La Gaceta, which must take place within 5 working days of the approval.
In a normal week, that publication would occur by the end of the week, Friday, at the latest and prices at the pump taking effect at 12:01 Saturday.
Given the holiday week, the extended vacation of central government workers, and the legal holidays Thursday and Friday, it was our belief the price hike would take effect next week.
However, that may not be the case and we could see the ‘publication’ by Wednesday, which would surprise the large number of vacationers when they fill up to head home this weekend.
The ¢55 colones per liter hike for Plus 91 (regular) gasoline means a driver of a vehicle with a 45-liter gas tank will pay an additional ¢2,475 colones.
The “toon” by Crhoy.com illustrates the point well, as we see the white elephant of the RECOPE truck telling drivers headed to the beaches and resorts, “see you on the way back”.
The look on the face of the drivers is priceless.