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Gasoline Almost at ¢600
As feared, yesterday the
Refinadora Costarricense de
Petróleo (Recope) made a request
for yet another increase in the
price of gasoline.
When, and not if, approved, the
price of a litre of regular
gasoline will jump from the
current ¢575 to ¢592 or 3.1%
higher, based on an adjustment
formula used by the state
refinery and gasoline
distributor.
The price of regular and diesel
gasoline is not affected, for
now, in the ajustment.
The Autoridad Reguladora de los
Servicios Públicos (Aresep) -
the state agency that regulates
prices of public services - will
now have 15 days to study the
proposal. However, the policy of
the new regulador, Fernando
Herrero, is to approve requests
as soon as possible, which could
mean the price at the pumps
could increase as early as at
the end of next week.
The reason for the increase is
being blamed to the high
vacation and travel season in
the United States placing excess
demand on gasoline products and
the failure of the refineries to
meet the demands, and the crisis
in the Middle East.
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