• Costa Rica Real Estate

Fuel, public transportation likely to see a hike in prices in coming weeks

March 4, 2014

Two hikes in the per-liter price of fuel could hit drivers’ pocketbooks this month, and taking a bus or a taxi won’t help save much money, as those rates are set to increase as well.

The first increase in fuel prices could be approved in the second half of the month and would mean a ₡26 increase in the per-liter price of “Super” gasoline, a ₡25 increase for “Plus” gasoline, and a ₡19 increase for diesel.

The National Oil Refinery (RECOPE) also has requested a hike in profit margins on fuel prices, as set by the Public Services Regulatory Authority (ARESEP). If approved, fuel prices would jump again this month by 47 percent. ARESEP, however, rejected a similar request from RECOPE last year.

The regulatory agency also is studying a request for a ₡10 increase in taxi fares, which could be approved later this month. If it moves forward, the base taxi fare will increase from ₡605 to ₡615 ($1.14-1.16). In addition, cabs providing service to Juan Santamaría International Airport, outside the capital, could increase base fares by ₡40.

ARESEP also is evaluating an increase in bus fares for routes across the country. If approved, those hikes could take effect in early April. The increases would total about 1 percent on average, the agency reported.

ARESEP officials currently are preparing public hearings to allow citizens opposed to the increases to express their opinions.

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