Gasoline Price Drops; To Drop Again Within Days
As of midnight last night the price of gasoline dropped and within this week it will drop even further with the approval Monday by the Autoridad Reguladora de los Servicios Públicos (Aresep) of a request by the state refinery, Refinadora Costarricense de Petróleo (Recope).

Today the price of a litre of regular gasoline dropped ¢26 colones, while the price of a litre of super gasoline dropped ¢28 colones. Diesel, however, rose ¢17 colones a litre as part of an adjustment to the subsidies on diesel fuel.

The approval will mean a further reduction of ¢13 colones for both regular and super gasolines and ¢15 colones for diesel.

The price drop will go into effect once it is published in the official government publication, La Gaceta, which is to be within five working days of the approval, which could come as early as this Friday.

With the Monday approval and today's reduction, the price of gasoline will drop by ¢41 colones for a litre of super and ¢39 for regular. Deisel fuel will have net increase of ¢3 colones and ¢29 colones for Jet A-1 fuel.

Recope says that the price reduction is based on lower costs of crude oil on world markets and the warm winter experienced in the North Eastern United States, as a consequence lowering demand for crude.

The price of a litre of regular gasoline today is ¢460 colones and super ¢488 colones. Once the approval kicks in, the new prices at the pumps will be ¢447 colones for a litre of regular and ¢475 colones for super. The price of a litre of diesel today is ¢364 colones, up from yesterday's ¢346 colones, dropping to ¢349 colones once the approval is in place.