ARESEP Approves Lower Gas Prices

August 25, 2006

Consumers of regular and super gasoline will soon pay about 3% less at the pump thanks to the Public Services Regulatory Authority (ARESEP) Tuesday approving gas price reductions requested by the National Oil Refinery (RECOPE) last week.

The price of one liter of super gas will drop from ¢597 ($1.15) to ¢580 ($1.12), and the price of one liter of regular gas will be reduced from ¢573 ($1.10) to ¢553 ($1.06), according to a statement from ARESEP. This reduction means a 2.9% decrease in the price of super gas and a 3.5% decrease in the price of regular gas.

These price adjustments reflect changes in gas prices on the international market and the fluctuation of the colón’s exchange rate.

The lower prices will go into effect as soon as they are published in the official government daily La Gaceta. ARESEP sent the resolution to the Government Printer Wednesday, the statement said.

 

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