Costa Rica News, Daily News in Costa Rica by the Tico Times

November 8, 2007
 
   
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Price of Diesel Fuel Goes Up

By Peter Krupa
Tico Times Staff | pkrupa@ticotimes.net

Fuel prices continue to rise in Costa Rica, as does consumption. The price of diesel fuel will go up tomorrow by ¢24 ($0.05), while prices of super and regular are going up ¢5 ($0.01) and ¢8 ($0.02), respectively.

The Public Services Regulatory Authority (ARESEP) justified the price hike saying increased demand in the United States due to the onset of colder weather is pushing the price of diesel up.

That's not a good enough explanation for some members of the private sector, however. The National Agriculture Chamber sent out a release stating that the diesel price hike will “directly hit the country's poorest population” as it drives up the cost of staple foods by increasing transportation costs.

Even with higher prices, fuel consumption continues to increase, so far by 9.9% compared to the same period last year. Much of that increase in use comes from the Costa Rican Electricity Institute (ICE), which has used nearly 50% more diesel fuel – 1.2 million barrels – so far this year compared to the same period last year

 
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