Bus fares go up 13 percent today
Beginning Aug. 14, bus riders will have to shell out 13 percent more for their trips.
The Public Services Regulatory Authority (ARESEP) set the hikes, which range from ¢5 to ¢770 ($1.40), in response to a 25 percent increase in diesel costs between April and August, to ¢726 ($1.32) per liter from ¢556 ($1.01).
The increase is the second this year. Bus fares went up 5 percent in April.
President Oscar Arias´ administration has proposed to eliminate the ¢95.5 ($0.17) per liter diesel tax, but lawmakers have not agreed on how to compensate for the cut in government revenue.
Fuel prices have increased around the world this year, and Costa Rica has not been immune. New price hikes approved by ARESEP went into effect yesterday.
Regular gas prices increased to ¢721 ($1.31) a liter from ¢704 ($1.28); super increased to ¢732 a liter from ¢716; and diesel increased to ¢726 from ¢720.
However, with the world price of oil now on the downswing, the National Oil Refinery (RECOPE) has requested a slight decrease in fuel prices.
RECOPE requested diesel drop by ¢2.8, super by ¢1.5 and the regular by ¢4.9.
The refinery said the decreases would have been greater had the colón´s value against the dollar not plummeted. In July, when this week´s price hike was requested, the dollar was trading at ¢523. The colón´s value has since dropped to ¢556.
According to RECOPE, ARESEP has 15 working days to consider the decrease request and, if approved, five days to make it official.
You may be interested
Costa Rica’s Keylor Navas, Real Madrid nab third consecutive Champions titleKatherine Stanley - May 26, 2018
Costa Rica's star goalie, Keylor Navas, continued his historic march through world football as his club team, Real Madrid, won…
Adaptive surfing, part III: Riding the waves with NoahEllen Zoe Golden - May 25, 2018
Part III in a series on adaptive surfing in Costa Rica. Read Part I, about the country's association for disabled…