Costa Rica Spends $1.43 Billion on Fuel

January 4, 2008

In five years, Costa Rica’s fuel bill has tripled, with the country spending $1.43 billion last year on petroleum products, according to the National Oil Refinery (RECOPE). That’s compared to $423.4 million the country spent in 2002. In 2006, Costa Rica spent $1.24 billion.

A year-end report by RECOPE attributed the steep spending increase to high international prices caused by political instability in the Middle East, increased demand from India and China, and the tightness of the world’s refining capacity.

 

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