Costa Rica (still) has the most expensive gas prices in Central America

Although the Public Services Regulatory Authority (ARESEP) last week approved a decrease in gas prices, Costa Rica still is the most expensive country in Central America for fuel, according to the latest consumer report by the Central American Committee for Cooperation on Hydrocarbons.

According to the committee’s August report, a gallon of “Super” gasoline in Costa Rica costs $5.63, while “Plus” is $5.43 and diesel is $4.63.

Following Costa Rica were El Salvador, Guatemala, Honduras, Nicaragua and Panama. In Panama, motorists pay $4.05 for a gallon of “Super” gasoline, $3.91 for “Plus” and $3.64 for diesel.

The study compares data from these countries based on the official rates for each month. Prices are compared with the equivalent per-gallon prices in dollars.

ARESEP sets fuel prices in Costa Rica using a monthly calculation formula that takes into account international prices of oil and the exchange rate with the dollar. The report states that the country’s 29 percent gas tax also affects the price. 

Last week’s price decrease was the second this year, while the agency has approved seven increases in the same period.