THE high oil prices reported duringthe past five months are starting to havean effect on Costa Rican gasoline consumption,according to the Costa RicanPetroleum Refinery (RECOPE).In May, RECOPE’s sales of hydrocarbon-based products (gasoline, diesel,bunker, asphalt and jet fuel) dropped1.66% compared to April.Sales of “regular” gasoline dropped4.40% or by approximately 1.82 millionliters (502,000 gallons). Sales of “super”gasoline dropped 5.61% or by approximately1.65 million (435,000 gallons).Costa Rica consumes between 16 and17 million barrels of oil each year. Each$1 increase in the price of a barrel of oilincreases the country’s trade deficit by asmuch as $17 million, according to theCentral Bank.
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