Regulator Approves Drop In Auto Fuel Prices

Drivers will have a little extra change after the Public Services Regulatory Authority (ARESEP) have approved a drop in fuel prices.

Super gasoline will soon decrease by ¢72 ($.13), from ¢488 to ¢416, plus gasoline will drop by ¢66 to ¢408 per liter, and diesel fuel will fall by ¢95 to cost ¢427 per liter.

ARESEP devised these rates after calculating an average rate from the last 15 days of fuel prices on the international market.

In addition, ARESEP already has started a detailed study regarding February prices.

ARESEP said the February rates would most likely increase due to the current conflict in the Middle East. The increase for next month is estimated to be ¢16 for super fuel, ¢18 for plus fuel and a hike of only ¢3 for diesel fuel.