New increase in fuel prices approved

February 26, 2013

The Public Services Regulatory Authority (ARESEP) approved an increase in fuel prices that will take effect later this week.

Per-liter prices for Super gasoline will increase by ₡17 ($0.034), while Plus gasoline and diesel will will go up ₡15 ($0.030).

The adjustment is the result of a calculation formula that takes into account international prices of each of the finished products (gasoline and diesel) according to the New York Commodity Exchange.

The main reason for variation in prices was speculation created in the international market due to geopolitical tensions between Iran and the United States and between Israel and Syria. Corruption scandals in Spain and the unexpected contraction of GNP in the United States also affected the price.

Price changes will take effect at midnight on the day of its publication in Costa Rica’s official newspaper La Gaceta, expected to occur this week.

ARESEP warned drivers that if they can’t find fuel supplies available at the pump, they should report to ARESEP (8000-ARESEP), as gas stations must have enough inventory to supply fuel sales for at least five days.

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