• Costa Rica Real Estate

Gas prices go up again

September 23, 2014

Recent good news for drivers lasted less than a month as per-liter prices of “Super” and “Plus” gasoline on Saturday increased by ₡5. Diesel increased ₡3.

The Public Services Regulatory Authority (ARESEP) last month approved a price decrease – the second this year – but Saturday’s was the eighth increase of 2014.

A liter of “Super” gasoline now costs ₡779 ($1.46), while “Plus” costs ₡757 ($1.42) and diesel ₡669 ($1.25).

The new prices follow an update of the Fuel Tax, which is calculated based on an inflation report issued quarterly by the Finance Ministry.

Cooking gas prices also were affected. According to prices ARESEP published in the official newspaper La Gaceta, an 8.5-liter cylinder increased from ₡3,339 to ₡3,348 ($6.25-6.26), while a 17-liter cylinder jumped by ₡17 to ₡6,695 ($12.53).

The Finance Ministry collects the Fuel Tax to fund public programs by redistributing 66.4 percent of the revenue among several agencies. The remaining 33.6 percent is sent to the National Roadway Council to fund road repairs and the Agriculture and Livestock Ministry for reforestation projects.

According to a consumer report published earlier this month by the Central American Committee for Cooperation on Hydrocarbons, Costa Rica is the most expensive country in Central America for fuel.

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