Saturday, June 27th, 2015 | USD: Buy 528.81 / Sell 541.11
June 18th, 2014 (InsideCostaRica.com) After constant increases in the price of gasoline and diesel for at least the last two months, President Luis Guillermo Solís requested a report from the Regulatory Authority of Public Services (ARESEP) yesterday afternoon, detailing the exact methodology used in setting the price of gasoline and diesel fuels in the country.
“I want to know if the formula you are using is the best way [to determine prices] … We request a review of the pricing model because gasoline just goes up and up. I am not a technical person. I want explained to me why we are paying so much,” Solís told regulators yesterday.
“Someone you know very well told me that in respect to the current formula that not even he can understand it and he is an astronaut, his name is Franklin Chang,” Solís added, referring to the famed Costa Rican astronaut and rocket scientist.
The president said he wants to know if there are alternative formulas for setting fuel prices, and wants to know in detail how fuel prices are currently calculated.
ARESEP, for its part, blames the international price of fuel.
Costa Rica has the most expensive gasoline and diesel prices in Central America, according to a recent report. The report also highlights that the country has the worst roads in the region, despite the fact that nearly one-third of the cost of fuel in the country is supposed to be used for road repairs and maintenance.