After a year of price hikes, the National Oil Refinery (RECOPE) has requested authorization to drop gasoline prices. The request is the result of a strengthening of the colón after the Central Bank made an adjustment to the exchange rate.
RECOPE is requesting a ¢12 drop in the price of a liter of super and a ¢8 drop in regular. The price of diesel, meanwhile, continues to rise thanks to increased global demand due to the onset of winter. If RECOPE gets its way, diesel will go up ¢7.
The request must go through a 30-day period of public comment and review by the Public Services Regulatory Authority (ARESEP). If approved, it would go into effect around the middle of January.