Diesel Fuel To Increase
˘86 If Legislators Don't
Approve Subsidy, Says
Regulador
If the expanded
vehicular restrictions
of San José have not
been reason enough for
drivers to leave their
cars at home, the latest
round of gasoline prices
may be so, as the
Regulador General,
Fernando Herrero, is
getting ready to sign
the approval of a ˘86
colones hike to the
price of a litre of
diesel and ˘58 colones
for regular and super
gasolines.
The Regulador is
expected to sign the
approval not later than
Monday, which will then
be published in the
official government
publication, La Gaceta,
within five days,
meaning the higher
prices at the pumps will
be in effect by next
weekend or the middle of
the month at the latest.
The government announced
a subsidy of ˘86 colones
on the price of a litre
of diesel. However, the
subsidy never did get
the required approval
from legislators, which
according to Herrero, he
must apply the law while
legislators continue to
discuss and approve the
bill to transfer ˘10
billion colones to
Recope, the state oil
refinery, from Hacienda
(finance ministry).
The transfer was the
amount required to cover
the shortfall for Recope
for not increase the
price of diesel.
Only the legislators can
stop the increase,
according to Herrero.
"If the Legislative
Assembly approves the
transfer to Recope in
the coming days we can
order an automatic
reduction in a
resolution as Recope
could not receive both
the increase and the
transfer", said Herrero.
This week the price of a
barrel of crude oil hit
an international high of
us$146, which may only
mean a small increase in
gasoline prices for
August when Recope makes
its presentation of its
monthly adjustment of
gasoline prices every
second Friday of each
month.
If the price of crude
oil stays level during
the coming week, the
increase could be only a
few colones per litre. |
