Saturday 25 June 2022

Gasoline prices will drop next month

This will be the second consecutive reduction after six consecutive increases that set record fuel prices in Costa Rica

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24 June 2022 - At The Banks - BCCR

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QCOSTARICA – A small relief, and not the ¢2 colones smack in the face of last week, will hit consumers at the gas pumps next month, announced this Monday the Autoridad Reguladora de los Servicios Públicos (Aresep).

The adjustment, expected to take effect the first week in July, will be a reduction of ¢44 colones per liter of super gasoline, ¢29 for regular, and ¢37 for diesel.

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The adjustment is the monthly modification to fuel prices, whose proposal is normally known on the second Friday of the month, which would have been last Friday, June 17, but is now delayed by a few days because the Refinadora Costarricense de Petróleo (RECOPE) – the Costa Rican refinery that refines nothing, no longer does the calculations.

With this reduction, a liter of super gasoline drops to ¢1,016, regular to ¢993, and diesel to ¢873.

Other fuels, such as propane will also drop. According to this Monday’s announcement, LPG, in its 25-pound tank, which is the most used in the country, will also have a reduction, going from ¢10,372.48 colones to ¢10,363.20. This fuel is used by 53% of households for cooking.

Fuel prices in Costa Rica are regulated. The RECOPE is the state entity that imports and distributes fuels to gasoline stations, at prices set by the ARESEP. That means all gasoline stations throughout the country sell the same gasoline at the same price.

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