The Public Services Regulatory Authority (ARESEP) approved a price decrease of ₡6 for diesel and super gasoline, and of ₡5 for plus gasoline.
The per-liter price of super gasoline will drop from ₡735 to ₡729 ($1.47-$1.45), while regular gasoline will drop from ₡693 to ₡688 ($1.38-$1.37) and diesel from ₡656 to ₡650 ($1.31-$1.30).
Gas station owners had requested a 37 percent increase in the profit margin they earn, but ARESEP ruled against them.
ARESEP official Juan Manuel Quesada said a technical evaluation of gas station infrastructure, depreciation expenses and profit margins “resulted in a decrease in the profit margin for fuel vendors that will be applied in the final price paid by consumers.”
The current profit percentage for fuel vendors is ₡43.4 per liter, which now will be set at ₡37.6.
The measure will be sent to the official newspaper La Gaceta and will take effect the day after its publication.