Fuel prices to drop this week

The Public Services Regulatory Authority (ARESEP) approved the fifth decrease in fuel prices of the year, sending the order Monday for publication in the official newspaper La Gaceta.

“Super” gasoline will decrease from ₡757 to ₡689 ($1.43-1.30), “Plus” gasoline from ₡720 to ₡655 ($1.36-1.24) and diesel from ₡636 to ₡607 ($1.20-1.15). Liquefied petroleum gas also will drop from ₡336 to ₡310 ($0.34-0.59) per liter.

The decrease – the last of the year – likely will take effect on Wednesday or Thursday, and according to ARESEP spokeswoman Carolina Mora, it was approved primarily because the U.S. registered an increase in reserves during November.

New prices match those requested by the National Oil Refinery (RECOPE) in mid-November.

The previous decrease in fuel prices was approved in October, when ARESEP approved reductions ranging from ₡16-₡21.