Wednesday 27 September 2023

Major Gas Price Hike Coming Our Way

Price hike expected to take effect by mid August

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27 September 2023 - At The Banks - Source: BCCR

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Get ready for another gas price hike coming our way next month (August).

The government regulator, Aresep, approved the following price increase:

  • ¢31 colones for a liter of super
  • ¢26 colones for a liter of regular (plus 91), and
  • ¢14 colones for a liter of diesel
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With the change, the price at the pumps will be, in effect the day following publication in La Gaceta (expected the middle of August):

  • Super: ¢690 from the current ¢659
  • Regular (plus 91): ¢664  from the current ¢638
  • Diesel: ¢541 from the current ¢527

Under the current system of regulating fuel prices, the Recope makes requests to the Aresep the second Friday of each month.

The latest was made on July 12, the Recope citing “the behavior of the international price of each fuel is considered, as well as the variation in the dollar exchange rate”.

With respect to the exchange rate, the variation from the previous month to the requested date, the colon dropped from ¢590.15 per US dollar to ¢582.48, the numbers used by Recope, as explained in their statement provided on July 12.

Fuel prices in Costa Rica are regulated.

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