The price and demand for gasoline are both on the rise in Costa Rica.
The Public Services Regulatory Authority (ARESEP) announced on Friday that the price of gas will increase this month. The price of super will be raised ¢ 24 per liter, the price of regular plus will be raised ¢ 26 per liter and the price of Diesel will be up ¢ 23 per liter.
The adjustment in prices is calculated using a scale that charts the international prices of gasoline between Oct. 29 and Nov. 12, as well as the price of the colón with respect to the dollar on Nov. 12.
The slight hike in price could have an affect on the consumption of gasoline, which was 13 percent higher in November 2009 than November 2008, according to the National Oil Refinery (RECOPE). In November 2008, Costa Rica used around 1.28 billion barrels of gasoline, while in November of this year, that amount reached a consumption of nearly 1.46 billion barrels.
The increased consumption possibly stemmed from the decrease in gas prices for the month. According to the National Statistics and Census Institute (INEC), transportation costs, which include gasoline, dropped 0.11 percent in November. Through the first 11 months of 2009, transportation costs have risen only 0.91 percent. Through the first 11 months of 2008, transportation costs rose 16.96 percent.