Regulatory agency approves decrease in fuel prices

May 28, 2014

Costa Rica’s Public Services Regulatory Authority (ARESEP) on Monday approved decreases in the prices of super and plus gasoline.

The agency authorized a ₡31 reduction in the per-liter price of super gasoline and ₡27 for plus gasoline.

But for diesel, ARESEP decreed a ₡15 price hike, increasing the per-liter price from ₡634 to ₡649 ($1.27-$1.30).

New prices already have been submitted for publication in the official newspaper La Gaceta, and once approved, a liter of super gasoline will decrease from ₡752 to ₡721  ($1.50-$1.44), while plus gasoline will decrease from ₡729 to ₡702 ($1.46-$1.40).

Decrees usually take up to three days to be published in La Gaceta, and the new prices are likely to apply starting this week.

Price adjustments were calculated by a formula that takes into account oil prices in the international market and variations in the dollar exchange rate.

Also, the price of liquefied gas will increase by ₡505 ($1), and a 25-pound tank will jump from ₡7,808 to ₡8,313 ($15.62-$16.63).

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