Tuesday 28 June 2022

Tax Is More Than Half Of Retail Price Of Gasoline in Costa Rica

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28 June 2022 - At The Banks - BCCR

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QCOSTARICA – The most recent drop in fuel prices will be remembered for being the ‘biggest’ drop in history. But there is another fact that will also be remembered: the portion of tax paid by the consumer is the highest percentage in history.

For every litre of super gasoline you put into your tank, ¢244 of the ¢445 colones you pay, is tax, money going to straight to the state coffers. For a litre of regular, the tax collector gets ¢233 on the ¢424 colones paid by the consumer. For diesel, the tax is 40%, the second highest historically.

If you are asking why, even though fuel prices dropped, the tax is still high, it is because the tax on fuel is a fixed amount and updated according to inflation rather than the international price of fuels.

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Recope, on its website, details the price, tax and profit for retailers, that makes up the final price.

According to Recope, the price of a litre of super gasoline is ¢144 colones, to which added is ¢244 colones for tax and ¢56 for retailer profit, for a final price of ¢445. The price of a litre of regular  gasoline is ¢124 colones, to which added is ¢233 colones for tax and ¢56 for retailer profit, for a final price of ¢424.

In Costa Rica, gasoline station operators have nothing to do with the final price to the consumer. In fact, their margin (profit) is a fixed amount regulated by authorities.

Source: Recope figures

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