Thursday 9 February 2023

Today Costa Rica wakes up to an increase in fuel prices, the third this year

Fuel price increases on international markets are blamed for the increase in fuel prices in Costa Rica

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9 February 2023 - At The Banks - BCCR

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QCOSTARICA – At 12:01 am this Wednesday, fuels will be more expensive, as the third price hike of the year takes effect.

Fuel price increases on international markets are blamed for the increase in fuel prices in Costa Rica

The increase in fuel prices requested on February 12 by the Refinadora Costarricense de Petróleo (Recope) and approved by the regulating authority, the Autoridad Reguladora de los Servicios Públicos (Aresep), is for ¢37 colones per liter for both super and regular gasoline and ¢32 for a liter for diesel.

The price at pumps this morning went from ¢606 to ¢643 for a liter of super gasoline, from ¢591 to ¢628 for egulr and ¢504 to ¢536 for a liter of diesel.

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This means that filling a 45-liter tank will cost starting this morning an additional ¢1,665 for super or regular gasoline and ¢1,440 for diesel.

This is the third consecutive increase this year, raising the price of super gasoline ¢54 a liter, ¢62 for regular and ¢54 for diesel.

In its February request, Recope argued that the increase in international prices of imported fuels forced the adjustment

The refinery that does not refine anything added that coronavirus vaccines have been fueling external price increases for weeks.

“There are expectations that measures will be relaxed and people will be able to move more freely, which will increase the demand for fuels,” it said.

Another factor, Recope argued, points to supply cuts by the main international producers, who pledged to continue lowering pumping quotas and, in recent months, have helped raise prices per barrel from historic lows.

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The next request for an adjustment in fuel prices is days away, on March 12, and any change would be reflected in the last days of March, most likely to coincide with the Semana Santa (Easter Week) from March 28 to April 3.

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Q Costa Rica
Reports by QCR staff

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