Costa Rica Coffee Guide

Costa Rica’s oil imports rose by almost 3 percent in 2010

January 19, 2011

During the past year the Costa Rican Petroleum Refinery (Recope) imported 18 million barrels of oil, a 2.6 percent increase from 2009. The average cost per barrel was $80.23. Costa Rica is expected to import an estimated 21.5 million barrels of fuel in 2010, at an estimated cost of $95 per barrel.

The main reason for the increase in prices has been economic recovery, which is driving oil consumption, especially in developing countries that are taking advantage of the weakening dollar.

On Tuesday, the Regulatory Authority for Public Services (ARESEP) approved the first adjustment in fuel prices for 2011.
 
Beginning Jan. 25, Premium gasoline will increase 7 cents per liter, Plus gasoline will go up 17 cents per liter, and diesel will cost 2 cents more.

Last week, Dr. Fatih Birol, the Chief Economist of the International Energy Agency (IEA), said that oil prices had reached a dangerous zone. In recent weeks, worldwide cost per barrel of oil has flirted with the $100 mark, while the international average per barrel of fuel is around $89.

“The oil import bills are becoming a threat to the economic recovery,” said Birol in a statement.

You may be interested

Costa Rica coronavirus data for July 6, 2020
Costa Rica
21184 views
Costa Rica
21184 views

Costa Rica coronavirus data for July 6, 2020

Alejandro Zúñiga - July 6, 2020

Costa Rica confirmed 245 new cases of the coronavirus over the past day, totaling 5,241 cumulative known cases, the Health…

News briefs: Police continue shutting down events, enforcing vehicular restrictions
Costa Rica
3631 views
Costa Rica
3631 views

News briefs: Police continue shutting down events, enforcing vehicular restrictions

Alejandro Zúñiga - July 6, 2020

The coronavirus pandemic has impacted daily life in Costa Rica, which has declared a State of Emergency and enacted sweeping…

Pic of the Day: Hiking through Irazú Volcano National Park
Pic of the Day
1159 views
Pic of the Day
1159 views

Pic of the Day: Hiking through Irazú Volcano National Park

The Tico Times - July 6, 2020

Irazú Volcano National Park is best known for views of the volcanic craters, but a second, lesser-known sector of the…