Recope Has Yet To Apply
Diesel Fuel Subsidy
According to the
ministro de Hacienda
(Finance minister),
Guillermo Zúñiga, the
Refindora Costarricense
de Petroleo SA (Recope)
- state refinery - must
ask for the ¢10 billion
colones it was promised
by the government to
subsidize the cost of
diesel fuel by ¢85
colones a litre.
The funds are part of a
special budget approved
by legislators but has
yet to make it to the
state institution and
passed on to consumers
at the pumps.
For its part the
Autoridad Reguladora de
los Servicios Públicos (Aresep)
- the regulator of
public prices and
services - before it can
approve a reduction on
diesel fuel it has to
get confirmation by
Recope that it has
received the funds.
Regulador, Fernando
Herrero, is adamant that
no price reduction or
subsidy will be allowed
until Recope has
received the money from
Hacienda.
"The funds are there and
see that it could be
used to lower fuel
prices, however, I need
the people at Recope to
tell me they need the
money", said Zúñiga.
The ¢85 colones subsidy
could give consumers of
diesel fuel a break from
the record price of ¢729
a litre.
The majority of
commercial vehicles in
the country use diesel.
On June 12, as an
emergency measure to
combat high fuel prices,
the government of Oscar
Arias, promised to
subsidize diesel fuel
prices and allotted the
¢10 billion colones for
Recope to apply to that
end. In July,
legislators approved the
funding. |
