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Higher Gasoline Prices Coming
in New Year
The Refinería Costarricense de
Petróleo (Recope) has New Year's
gift for everyone - an increase
in the price of gasoline -
making the announcement on
Thursday, one day after the
latest price reduction came into
effect, the third in a row since
the beginning of November.
The increase, when approved,
will see gasoline prices jump
from the current ¢422 colones to
¢453 colones for a litre of
super, to ¢432 from ¢402 for
regular and to ¢315 from ¢303
for diesel.
The Autoridad Reguladora de los
Servicios Públicos (Aresep) will
officially receive the request
at the beginning of January when
it returns from the holidays and
will have 15 days to make a
decision, which the prices can
then come into effect 5 working
days later.
Recope uses an automatic formula
calculation based on the price
of crude oil on world markets to
set gasoline prices. The formula
increases or lowers the price of
gasoline at local pumps when the
global price for petroleum
products fluctuates more than 5%
since the latest price change.
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