Gas Hike Approved
Get ready to loosen the
purse strings as another
round of gas price
increases is around the
corner, as the the
Autoridad Reguladora de
Servicios Público -
regulating authority -
gave the national oil
refinery (RECOPE) a
price hike approval.
The increase will be
5.4% for super, 5.8% for
regular and 8.2% for
diesel.
In terms of prices, a
litre of super will jump
from the current ¢588
(us$1.14) to ¢620
(us$1.20); regular will
jump from ¢522 (us$1.01)
to ¢584 (us$1.13) ; and
diesel increases from
¢392 (us$0.76) to ¢424
(us$0.82).
The price of kerosene
and jet fuel will also
be increased.
RECOPE said that the
increased cost of crude
oil international
markets and the
increased operating
costs are the reasons
behind the price hike.
The new prices will go
into effect within five
working days of Friday's
approval when it is
published in the
official government
dialy La Gaceta.
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