Gasoline Prices To
Keep Falling. Finally!
With the drop in the
price of crude oil on
international markets,
the price of gasoline at
the pumps in Costa Rica
are finally beginning to
fall, the biggest drop
to be this Saturday.
According to the
Autoridad Reguladora de
los Servicios Públicos (Aresep)
- regulator of public
prices and services -
the price of gasoline
will keep dropping.
The price of a barrel of
crude on international
markets went from us$144
in July to yesterday's
close of us$43. However,
a gallon of gasoline in
Costa Rica still costs
more than us$5, while in
the US, for instance,
the price is under us$2
a gallon.
On Friday, the latest
approved price drop will
be published in La
Gaceta and takes effect
at the stroke of
midnight Saturday, when
a litre of super
gasoline goes down in
price ¢152 colones,
regular ¢150 and diesel
¢87. The price of
natural gas and aviation
fuel will also drop.
Currently a litre of
super gasoline sells fro
¢640 colones, on
Saturday it will be
¢488. A litre of regular
gasoline will drop from
today's price of ¢624 a
litre to ¢474 and diesel
from ¢609 to ¢522.
Using today's exchange
rate of ¢550 colones to
a US dollar, the price
of a litre of super is
us$1.16 (us$4.49 a
gallon), regular us$1.13
(us$4.37) and diesel
us$1.10 (us$4.25).
On Saturday the prices
for a litre of super
will be us$0.88
(us$3.40), regular
us$0.86 (us$3.34) and
diesel us$0.95
(us$3.68).
However, there is good
news, prices will
continue to drop even
further if the price of
crude remains the same.
The Aresep has changed
its formula for
calculating gasoline
prices from 30 days to
15 days.
The change means that
Recope - the state
refinery - could ask for
a further reduction on
Friday that could mean a
further reduction of ¢50
per litre that would
take effect in the new
year.
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