Diesel Fuel Price Drop
Imminent, But Not For
Long Says Recope Head
Good news for owners of
diesel powered vehicles,
the price of a litre of
diesel fuel will soon
drop by at least ¢80
colones, following the
first reading approval
by legislators of
transferring ¢10 billion
colones to the state
refinery to provide the
diesel fuel subsidy.
The price at the pumps
will drop as soon
legislators vote the
second reading and the
Ministerio de Hacienda
(Finance ministry) makes
out the cheque to the
Refinadora Costarricense
de Petroleo SA (Recope).
The head of the
Autoridad Reguladora de
los Servicios Públicos (Aresep),
Fernando Herrero, was
clear that the subsidy
will not be applied
until the Hacienda
cheque clears.
Second reading on the
subsidy is expected
today, according to the
president of the
Legislative Assembly,
Francisco Antonio
Pacheco.
Herrero added that the
actual reduction in the
price of diesel fuel
will also allow for the
adjustment of the
devaluation of the colon
against the US dollar
that occurred last week
and the movement of the
price of crude oil on
international markets.
José León Desanti,
president of Recope,
said that the reduction
won't have much of an
impact. "I don't see the
help to drivers, we can
see an ¢80 colones drop
at this moment, but will
rapidly be absorbed by
high international
prices", said Desanti.
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