Gas prices to drop in August
Fuel prices at the pump will be ₡4.74 cheaper per liter starting next month, following orders signed by the Public Services Regulatory Authority (ARESEP) last Friday.
ARESEP officially informed the state-owned Costa Rican Oil Refinery (RECOPE) that it has to lower fuel prices in order to return to the public ₡1,109 million ($2 million) spent improperly.
Results from an audit conducted in late 2014 at the request of lawmakers from the Legislative Commission on Public Spending and Income Control found irregularities in expenses reported by RECOPE during the expansion and modernization of its refinery in the Caribbean port of Limón.
According to the audit RECOPE improperly included project costs such as salaries, airline tickets, travel expenses and professional services in one of its requests to ARESEP to raise fuel prices. Those expenses should have never been charged to Costa Ricans at gas pumps, the investigation found.
The price cut announcement comes just a week after a price hike went into effect. Higher per liter prices ranging from ₡16 to ₡29 entered into force last week for Diesel, Super and Plus gasoline.
You may be interested
Off the eaten path: Ban MeeWilliam Ayre - August 18, 2018
You might not expect to find an authentic Vietnamese restaurant tucked away on Calle 38 in Paseo Colon, near the…
Venezuela on edge as Maduro unveils raft of economic reformsAFP / Alexander Martinez and Esteban Rojas - August 18, 2018
CARACAS, Venezuela—Uncertainty reigned in Venezuela on Saturday after President Nicolas Maduro unveiled a major economic reform plan aimed at halting…
Costa Rica Rocks: A night of heavy metal in CartagoEduardo Doryan - August 17, 2018
Paraíso, a small city about 8 kilometers southeast of Cartago is known for the beautiful surroundings that gave it its…