us$2.1 Billion In Fuels
Costa Ricans are burning
fuels at a us$6 million
daily rate, for an
overall us$2.1 billion
at the end of the year,
us$600 million over the
us$1.5 billion forecast
by the Costa Rican Oil
Refinery (RECOPE ).
In 2007, Costa Rica
imported fuel for us$1.4
billion, but the
Refinery foresaw an
average us$80 per barrel
for this year, not the
around us$100 current
quote.
RECOPE finance manager
Carlos Quesada said that
Costa Rica is not an oil
country and is therefore
subject to the pressures
from the international
prices of fuels, which
in turn propel up the
prices of other goods at
the domestic level, a
major factor for
inflation. Because of
these facts, the Central
Bank’s 8 percent top
inflation goal for this
year is not likely to be
attained.
The Bank’s chief
executive Francisco
Gutierrez admitted that
the price of oil is one
of the major limiting
factors in the control
of inflation. |
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