Falling oil prices mean cheaper fuel in Costa Rica

The Public Services Regulatory Authority (ARESEP) on Monday evening approved a new decrease in fuel prices that will take effect in coming days.

International oil prices have dropped in recent weeks following a decrease in demand, a strengthening of the dollar and an increase in reserves, the agency reported.

This is the fourth consecutive fuel price decrease. A liter of “Super” gasoline will drop by ₡22 to ₡755 ($1.39), “Plus” gasoline will decrease by ₡27 to ₡717 ($1.32), and diesel by ₡24 to ₡634 a($1.16).

ARESEP took into account the international prices of oil between Sept. 25 and Oct. 9, and the stability in the dollar exchange rate, which averaged ₡541.81.

The agency on Tuesday will send the decree with new prices for publication in the official newspaper La Gaceta.

Cheaper prices will enter into effect at midnight of the day they are published.