RECOPE requests additional increases in gasoline, diesel prices

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January 10th, 2014 (InsideCostaRica.com) The Costa Rican Petroleum Refinery (RECOPE) is requesting increases in the prices of gasoline and diesel for the second time this month, citing a need to cover its operating costs.

 

Already this month, the Regulatory Authority for Public Services (ARESEP) approved another set of RECOPE requests for price hikes, which will go into effect next week.

 

Those increases are expected to be ¢21 for super gasoline, ¢17 for ‘plus’ gasoline, and ¢20 for diesel, according to an ARESEP spokesperson.

 

RECOPE’s new request would raise fuel prices by up to an additional ¢45 per liter on top of next week’s hikes, and would take effect in about two months.

 

The request will be considered by ARESEP later this month.

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  • morlaine

    If RECOPE can’t make ends meet with all the money they are already collecting on gasoline sales, then the government needs to do an extensive audit to see exactly where all this money is going. My guess would be lots of fancy cars and/or houses for people having control of these funds. An audit should be required before approving price increases for government controlled monopolies or utilities. Just the fear of facing an audit should cut down on the requests for increases.

    • mhogan

      What you’re calling for is a forensic audit — ain’t gonna happen; welcome to the banana republic … hahahahahaha

  • WT Baggett

    I worked for a global petrochemical company for 30 years. I retired to Costa Rica. It appears it would be cheaper to shutdown the one refinery in Limon and buy finished product on the spot market and just make Limon a big truck tanker terminal. That would reduce the expense of 75 per cent of operating costs thereby cutting instead of increasing prices.
    If the refinery is inefficient, or incapable of meeting the needs of the nation then it should be expanded, or shutdown. More information needs to be supplied as to who RECOPE buys crude from, what price, and how high of a sulfur content they can remove. Also maint contractors should be looked at, to see if any “sweetheart” deals exist in overpriced expenses to maintain operations.
    Its all about transparency. If the oil company belongs to the people then they should be forthcoming with more information on why price increase after increase is needed. Crude is holding steady for last 2 years. India has a refinery processing 2 million barrels a day. They are looking for customers, why not Costa Rica?

    • turbooperator

      The refinery was shut down some time ago. RECOPE currently only distributes fuel.