San José, Costa Rica, since 1956
Relief at the Pump

Regulator publishes ‘historic’ drop in gas prices amid global oil oversupply

No need to keep driving on fumes, as Costa Rica’s gasoline regulator announced “historic” price cuts at the pump starting Thursday. Plus gasoline goes on sale at ₡552/L ($1.02), with ₡580/L ($1.07) for Super and ₡522/L ($0.97) for diesel, according to prices ARESEP published in the official newspaper, La Gaceta.

The price plunge brings the cost of fuel in Costa Rica down by its largest amount since January 2009, almost 16 percent compared to December 2014, the Public Services Regulatory Authority (ARESEP) said in a statement Wednesday. ARESEP announced that it would lower the cost of Super gasoline ₡109, Plus ₡103 and diesel ₡85 – more than the National Oil Refinery, RECOPE, originally requested in December 2014.

As global oil prices tumbled 60 percent since June 2014 to six-year lows, Costa Rican prices for Super gasoline fell only 12 percent, from ₡787/L ($1.46) in June to ₡689/L ($1.27) in December 2014, according to Tico Times calculations based on figures provide by RECOPE. Plus fell nearly 14 percent and diesel 12 percent during the same period.

The announced January price cuts bring gas prices down 26 percent from its annual peak in June 2014.

AFP contributed to this report.

Contact Zach Dyer at zdyer@ticotimes.net

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Don Blake

Oh and by the way this is a guy that applied for a residency permit over a year ago….at huge expense of course. ..and still hasn’t got it! My wife can’t drive her car, and I we get treated like illegal immigrants or criminals! If the government of Costa Rica doesn’t want us here, or the many thousands of people like us, then at least have the balls to tell us that to our face!….and we will happily take our significant investment and the revenue we generate for your country, to another country that might welcome us, and we will employ their people, pay their taxes, and help grow their country……how does that work for you?…..I respect and value your country and your people, all I ask is that you show the same badic common decency and courtesy to me and my family!….is this too much to ask?….Pura Vida for all…

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Don Blake

The government of this vountry is a disgrace! I am one of the stupid idiots that pays the ‘Impuesto Solidario’ the luxury house tax, a tax that was introduced in 2009 to use for building houses for the very poorest Costa Ricans….great! I have no problem with that, in fact I would have happily paid more, as I appreciate spending time in this beautiful country with it’s even more beautiful people. The problem however is that the money didn’t in actual fact go towards building houses for the poor, the initiative was scrapped….Ok no problem, so I will get my money back right?….Wrong!….the government decided I had to keep paying it…..Oh well I say, no problem that’s the way it is….so I kept paying….then this year my tax went up 20%……for what? How can a tax be increased for something it’s not being used for anymore? Where is the money going? I then find out that over 50% of the people who should be paying the tax are not paying it….Why I ask?….because crooked accountants, surveyors, and lawyers are being paid by people….some very wealthy people I might add….far wealthier than me, to falsify the registered true real value of their homes to below $200,000 so they can illegally avoid paying the tax! So knowing this, what do the stupid lazy overpaid imbeciles in the goverent do?…instead of finding the people who are doing this and making them pay fines and back payments or putting them in jail for fraud, they increased the tax for the honest people who have been paying the tax legally for the last 5 years!!!….this must be the only country in the world that penalises honest people, and rewards dishonest people!…..So how about this for a solution…..What if I reduce my Costa Rican staff’s salary by 20% to help me pay for my increased tax? Staff by the way that I pay more than double the minimum wage, that Costa Rican employers would pay them!……but I won’t do that…..why?….because I have too much personal pride, integrity, decency, honour and honesty to do such an inappropriate and mean spirited thing!……So I guess I will just carry on being a stupid idiot……Pura Vida!…..Shame on you government….you dishonour yourselves, your families, the good people of Costa Rica and me!….Thank you very much you complete arseholes!

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Jerry Werth

Even with the drop in prices we are paying 30% more than the USA for gasoline and drive on the worst roads in Latin America.

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LukeSkywalker

The cost of fuel in the US doesn’t come close to reflecting the environmental price we pay. The coming century is when we will pay the overdue bill for all that cheap gas.

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Dan Gibson

The supplier has been delivering the gas at a price of $1.37 per ”gallon” — in the tanks in San Jose for a little over a year now — and — wa la — out of the blue the regulatory body ”now” announces a price reduction —- someone made one heck of a lot of money —- for something that affects the Costa Rican people so much — I would have thought — ”oversight” would be on the top of the list for ”fuel” —-

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