Regulator Aims to Cut Prices of Gas Further

October 17, 2008

The Public Services Regulatory Authority (ARESEP) has made a bid to lower prices at the pump, by ¢39 ($0.07) per liter for super and ¢47 for regular.

The reduction would be greater than one proposed by the National Oil Refinery (RECOPE) of ¢24 for super and ¢31 for regular, the regulatory authority said in a press release.

Gas in Costa Rica currently runs at ¢722 ($1.30) a liter for super and ¢708 for regular (called gasolina plus).

“ARESEP believes it is necessary to eliminate the sway effect caused by Hurricane Ike … which shot up gasoline prices, but days after the market corrected this unusual effect,” the price regulator said.

A final decision on the cost reduction could come by mid-November.

ARESEP is seeking public comment on its proposal. Comments can be e-mailed to usuario@aresep.go.cr or faxed to 2290-2010 by 4 p.m. Oct. 27.

 

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