Fuel Prices Set To Rise Again
The price of fuel across the board will see another hike of ¢16-¢18 in two weeks, the eighth hike in as many months.
Last month, the Public Services Regulatory Authority (ARESEP) approved a request by the National Oil Refinery (RECOPE) to increase fuel prices due to spiking international petroleum prices and a volatile exchange rate.
But the authority rejected RECOPE’s request for another ¢24 hike within the next six months. In its request, the refinery cited losses of ¢32,321 million (about $61,400) due to rising international petroleum prices and Costa Rica’s formula for establishing the price of fuel.
“The petition was rejected in order to be able to analyze all of (RECOPE’s) accounts more extensively,” said Fernando Herrero, ARESEP’s general regulator. “We are working with RECOPE so that they can make another request as soon as possible.”
The most recent price increase went into effect on July 15, placing super at ¢716 ($1.33) per liter, regular at ¢704 ($1.30) and diesel at ¢710 ($1.31).
With this month’s price hike, super will increase to ¢732 ($1.36 per liter, diesel to ¢726 ($1.34), and regular to ¢721 ($1.34).
You may be interested
Costa Rica immigration offices to remain closed until OctoberAlejandro Zúñiga - September 19, 2020
The Immigration Administration on Friday said its main and regional offices will remain closed until October due to the coronavirus…
Pic of the Day: Hopping into the weekendAlejandro Zúñiga - September 19, 2020
Happy weekend from all of us at The Tico Times! [caption id="attachment_62085" align="aligncenter" width="740"] (Courtesy of Brian Kubicki)[/caption] [caption id="attachment_111342"…
Top dental clinics in Costa Rica meet patient needs in the age of COVIDVayolla Quiros / Goodness Dental - September 18, 2020
The Centers for Disease Control and Prevention (CDC) released its guidelines for dental settings in response to the COVID-19 pandemic.…