COSTA RICA NEWS — Good news, gasoline prices will be dropping as much as ¢60 colones per litre for regular and super, and ¢24 colones for diesel.
Through a press release, the Refinadora Costarricense de Petróleo (Recope) said it has submitted its monthly review to the Autoridad Reguladora de los Servicios Públicos (Aresep) for the reduction.
If approved, the price drop will be felt at the pumps next month.
Recope cited a decrease in the price of oil and refined gasoline products on international markets and the dollar exchange rate. Recope, despite being a called a refinery, it imports expensive refined gasoline products its sell to gasoline retailers across the country.
The methodology for setting gasoline prices is based on the international market prices previaling in the 15 days before the second Friday (tomorrow) of each month. The process calls for Recope to submit a request for wholesale and retail prices, and the Aresep evaluating the request and hold, if necessary, public hearings.
Gasoline prices in Costa Rica are national, meaning it is the same at every gasoline station in the country, regardless of the vendor and the location.