Solís favors change in methodology to calculate fuel prices

May 14, 2014
1 Comments

At a press conference following his weekly Cabinet meeting on Tuesday, President Luis Guillermo Solís said he would request a review of the methodology used for calculating fuel prices with the aim of lowering costs for consumers. The request will be filed with the National Oil Refinery (RECOPE) and the Public Services Regulatory Authority (ARESEP) in coming days.

“We will try to set a new calculation method for fuel that benefits consumers, but we know it’s a very complicated process,” Solís said.

Solís acknowledged that rising fuel costs are hurting Costa Ricans’ pocketbooks.

So far this year, ARESEP has approved three fuel price increases. The last one, approved last Friday, will take effect this week when published in the official newspaper La Gaceta.

“We also want to expedite price reductions, because we know that [fuel] prices remain high even when international prices decrease,” he added.

The current methodology used by ARESEP since 2008 takes into account a series of items including variations in international prices of oil, changes in the exchange rate and profit margins for vendors.

This week, the per-liter price of super gasoline will increase from ₡756 to ₡773 ($1.43-1.46); the price for plus gasoline will increase from ₡723 to ₡752 ($1.36-1.42); and diesel will cost ₡674 ($1.27), down from ₡675.

According to RECOPE, Costa Rica in 2013 consumed 19 million barrels of fuel that represented an expenditure of $ 2.1 billion.

Facebook Comments

You may be interested

PeaceJam to host first Youth Summit in Costa Rica
Peace Talks
303 views
Peace Talks
303 views

PeaceJam to host first Youth Summit in Costa Rica

Alejandro Zúñiga - October 19, 2018

Nobel Peace Laureate Jody Williams will headline the first PeaceJam Youth Summit in Costa Rica next month. The event, scheduled…

The energy of sound
Pic of the Day
323 views
Pic of the Day
323 views

The energy of sound

Alissa Grosskopf - October 19, 2018

“Sound is vibration, vibration is energy and that energy is light,” said Costa Rican musician Carlos "Tapado" Vargas. Apart from…

Human rights defender Alvaro Leiva: ‘There is a permanent darkness in Nicaragua’
Nicaragua
605 views
Nicaragua
605 views

Human rights defender Alvaro Leiva: ‘There is a permanent darkness in Nicaragua’

Katherine Stanley - October 19, 2018

When Alvaro Leiva took the stage at a recent fundraiser for Nicaraguan refugees and immigrants in Costa Rica, all eyes…