Gasoline Price Won't Be
Dropping in Costa Rica
If you thought that
gasoline prices in Costa
Rica would be dropping
anytime soon, given the
drop in the price of
crude oil on
international markets,
you would be wrong.
According to the
Autoridad Reguladora de
los Servicios Públicos (Aresep)
- the regulator of
public prices and
services - the method
used to fix gasoline
prices is once a month.
The director energey of
the Aresep, Álvaro
Barrantes , explained
that the method to
adjust gasoline prices
is based on the
international price and
the exchange rate,
however, there is a gap.
Gasoline price
adjustments can only be
made every second Friday
of the month and it uses
the average price of
crude for the past 30
days. So, when the
Aresep gives its
approval following the
second Friday request it
does not reflect the
crude oil price at the
moment, but of days
previous.
Complicating matters is
the time the Aresep
needs to analyze the
request, taking into
account a public
consultation, which can
take up to a month.
"The prices we have
today has a gap of one
or two months with
respect to the
international market",
said Barrantes.
Currently the Aresep is
studying the latest
request made by the
State refinery, RECOPE,
on August 11 asking for
a drop of ¢1 colon for a
litre of super, ¢5 for
regular and ¢3 for
diesel. In addition, the
regulator is analyzing
an increase of the tax
on fuels of ¢5 colones
for a litre of super, ¢5
for regular and ¢3 for
diesel.
Many feel that that
request is a joke,
mocking Costa Ricans who
have seen record fuel
prices this year, when
prices have been falling
in other countries.
Currently, a litre of
super gasoline sells for
¢732 colones; regular
¢721; and diesel ¢726.
Gasoline prices in Costa
Rica are uniform across
the country, even though
in Guanacaste and
Puntarenas regular
gasoline is being sold
with a mixture of
ethanol.
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