October 14th, 2012 – The Costa Rican Petroleum Refinery (RECOPE, in Spanish) announced on Thursday that as of next month, a decrease in gasoline and diesel prices would take place, as long as ARESEP (Public Services Regulating Authority) approves it.
According to RECOPE, “super” gasoline will go from 786 colons per liter to 770/liter, “regular” gasoline will go from 749 colons to 738, and diesel will decrease from 669 colons per liter to 667 per liter.
The Refinery stated that it has sent the request to the regulating authority.
RECOPE says it bases prices by taking into account the international price of each product, an average of 15 days previous to the revision, and the current exchange rate.
The cost of import is also taken into account, as it makes up some 55% of the price paid by RECOPE (not the consumer, however – which is mostly tax).
The decrease to be applied in November is due to “the international (market) behavior of petroleum in September,” as well as the end of summer driving season in the northern hemisphere, according to RECOPE.
RECOPE also said that consumers feel the effects on petroleum prices in Costa Rica about two months after international markets.