No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveRegulatory authority admits error in fuel price calculation, costs go up again

Regulatory authority admits error in fuel price calculation, costs go up again

In a regulatory flip-flop, the Costa Rican Public Services Regulatory Authority (ARESEP) on Tuesday admitted they made a mistake in estimating profit margins for fuel vendors, prompting the reversal of a ₡4 decrease in the per-liter price of fuel set last Friday.

Due to the error, ARESEP also ordered a hike of ₡5, for a total ₡9 increase that will go into effect the day the resolution is published in the official newspaper La Gaceta.

With the price hike, the per-liter price of super gasoline will cost ₡747 ($1.49), a liter of plus gasoline will be ₡707 ($1.41), and diesel will cost ₡624 ($1.24).

The announcement was made Tuesday afternoon by ARESEP official Juan Manuel Quesada in response to an appeal filed by gas station owners. Quesada said that while he “is not directly responsible for the error,” he will “assume the consequences.”

Gas station owners had threatened actions ranging from refusing to take credit or debit card payments to fully suspending sale of fuel countrywide.

Chamber of Fuel Businesses President Antonio Galva said in a press release that they expected Quesada “to respond to the political and economic costs of his mistake and his questionable actions.” Galva also called on Quesada “to resign or to be removed from office immediately.”

Trending Now

Climate Change in Costa Rica Devastates Coffee Farms in Los Santos

In Costa Rica’s Los Santos region, famous for producing nearly half the country’s coffee, farmers are reeling from heavy losses driven by wild weather....

El Salvador Slams Paris Fashion Show Inspired by Cecot Mega-Prison Inmates

The president of El Salvador, Nayib Bukele, joked on Saturday that he could send inmates from his mega-prison to France, after they were represented...

Costa Rica’s Piangua Mollusk Threatened by Pineapple Farm Runoff

Costa Rica’s Térraba-Sierpe National Wetland, a 33,000-hectare haven of mangroves and rivers, is under siege from an unlikely source: pineapple farms. A study by...

Protests Rise Over Panama Canal’s New Water Project

Panama’s President José Raúl Mulino on Tuesday defended the construction of a new reservoir for the interoceanic canal and criticized those who oppose the...

Celso Gamboa Allegedly Ran Drug Ring with Costa Rican Government Ties

Celso Gamboa, once Costa Rica’s Security Minister and a Supreme Court judge, now faces extradition to the U.S. for leading a major cocaine trafficking...

An Expat’s Take: 5 Burning Questions About Life in Costa Rica Right Now

Have you been keeping up with the various events taking place in Costa Rica? There is always something interesting going down, and here are...
L. Arias
L. Arias
Reporter | The Tico Times |
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica