Thursday 17 June 2021

“K Factor” Reason For High Gasoline Prices in Costa Rica

Recope
Recope

QCOSTARICA – The operating costs of the state refinery, the Refinadora Costarricense de Petroleo (RECOPE), increase the cost of gasoline to the consumer up to 35%.

The cost known as the “K factor” is one of the variables in the official formula to estimate consumer prices, in addition to seven other variables to arrive at the final consumer price in service stations.

- Advertisement -

The percentage between January and September 2015 represents a cost of ¢74 colones per litre for super gasoline, up from ¢55 colones in November 2013; regular gasoline increased ¢17 colones per litre, an equivalent of 32%, during the same period.

RECOPE operating costs weigh increasingly on gasoline prices.

El Financiero had reported that the first half of 2014 showed a trend downward in this factor. However, since the beginning of January 2015 it rebounded.

RECOPE states that the “K factor of gasoline and diesel increased, due to the cross-subsidy that is generated with the methodology (ARESEP, the regulating authority)”.

- Advertisement -

“The increase in the K values ​​of those products does not imply that RECOPE is perceiving higher incomes (…),” says the state agency through its press department.

La Nacion reported that such subsidy is a “mathematical maneuver, made in late 2008 by the ARESEP, that negatively affects the consumers in high prices for diesel and gasoline, to the benefit of  asphalt companies and users of natural gas save millions with lower prices.”

Source:

- Advertisement -

FACT CHECK:
We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Informants assisted OIJ in corruption investigations, says the minister

QCOSTARICA - The investigation into alleged bribery of public officials in...

MOST READ

Today’s Covid News: Restrictions allowed a decrease in Covid-19 and prevented hospital collapse

QCOSTARICA - A moderate decline in new cases for the third consecutive week allowed the hospital system to avoid the dreaded collapse and rapid...

COVID vaccines in the workplace: Can I ask who got their shots?

(DW) Jon works for the local government in the US state of Virginia. The 40-year-old received both his COVID shots in April. Most of...

Vaccination commission endorses J & J vaccine, says no to Sinovac

QCOSTARICA - The Comisión Nacional de Vacunación y Epidemiología (CNVE)  - National Vaccination and Epidemiology Commission - endorsed the use of Johnson and Johnson...

Today’s Vehicle Restriction: June 13, “EVENS”

Today, Sunday, June 13, only EVENS can circulate. The measure is countrywide and applied between 5:00 am and 9:00 pm, save for those under the...

Diseases, weather and low prices hit the orange sector in Costa Rica

HQ - The appearance of pests and diseases, in particular the 'dragón amarillo' (yellow dragon), the impact of the weather and a sharp drop...

Direct flight will connect Guanacaste with Austin starting in November

QCOSTARICA - American Airlines announced that starting November 2, 2021, it will offer a direct flight between Austin, Texas and the Daniel Oduber International...

Lack of space on Racsa’s hard drive paralyzed immigration consultation at the airport this Monday

RICO's DIGEST - We've all had this happen, your computer's hard drive is full and your computer crashes. But we are not the Radiográfica...

Apple extended the life of its older iPhones

QTECH - Whether due to the global economic crisis caused by the Covid-19 pandemic or due to shortages of electronic components, raw materials, factory...

Today’s Vehicle Restriction June 16: 5 & 6 CANNOT circulate

Today, Wednesday, June 16, vehicles with plates ending 5 & 6 CANNOT circulate The measure is countrywide and applied between 5:00 am and 9:00 pm,...

WANT TO STAY UP TO DATE WITH THE LATEST!

Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.