Gas prices to drop again this week in Costa Rica

The Public Services Regulatory Authority  (ARESEP) on Monday approved a new decrease in the per-liter price of fuel, the second consecutive one this month.

The approved decrease will mean a ₡43 drop in the price of Super gasoline, a ₡49 decrease for Plus gasoline, and a ₡48 decrease for diesel. Per-liter prices will change from ₡580 to ₡537 ($1.10-1.02) for a liter of Super gasoline, while Regular gasoline will change from ₡552 to ₡503 ($1.04-0.95) and diesel will decrease from ₡522 to ₡474 ($0.99-0.90).

ARESEP approved the new prices by taking into consideration a recent recent drop in the international prices of oil from $70 to $57 a barrel.

The price of cooking gas also will cost less this week, with an 8.5-liter cylinder decreasing from ₡2,725 to ₡2,597.

The new prices will take effect at midnight on the day of publication in the official newspaper La Gaceta. Once approved, prices will be on average ₡103 cheaper than those registered in January 2014.

Prices last year peaked in July when a liter of Super gasoline reached ₡816, with Plus gasoline at ₡788 and diesel at ₡676. Following that month, ARESEP has approved seven consecutive reductions in fuel prices accounting for ₡286 less in Super gasoline, ₡293 for Plus and ₡207 in diesel.