Diesel Fuel Goes Up ¢24 per Liter

November 9, 2007

Fuel prices continue to rise in Costa Rica, as does consumption. The price of diesel fuel goes up today by ¢24 ($0.05), while prices of super and regular are going up ¢5 ($0.01), and ¢8 ($0.02), respectively.

The Public Services Regulatory Authority (ARESEP) justified the price hike saying increased demand in the United States due to the onset of colder weather is pushing up the price of diesel.

That’s not a good enough explanation for some members of the private sector, however. Costa Rica’s National Agriculture Chamber sent out a release stating that the diesel price hike will “directly hit the country’s poorest population” as it drives up the cost of staple foods by increasing transportation costs.

Despite higher prices, fuel consumption continues to increase, by 9.9% compared to the same period last year. Much of that increase in use comes from the Costa Rican Electricity Institute (ICE), which has used nearly 50% more diesel fuel so far this year compared to the same period last year.

 

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