This year’s first price increase at the pump could start next month

February 13, 2015
1 Comments

The National Oil Refinery (RECOPE) on Friday filed its first request of the year for a fuel price increase, which would take effect in March, if approved.

The Public Services Regulatory Authority (ARESEP) will evaluate the request over the next two weeks. If accepted, a liter of “Super” gasoline would increase by 6 percent, from ₡537 to ₡569 ($1.01-1.07). “Plus” would increase by 7.5 percent, from ₡503 to ₡541 ($0.95-1.02), while diesel would increase by 4 percent, from ₡474 to ₡493 ($0.89-0.93).

RECOPE’s request states that the price hike is necessary due to increasing prices in international markets from Jan. 29 to Feb. 13. The reference barrel price in that period jumped from $57 to $66 for “Super,” $52 to $63 for “Plus,” and $66 to $72 for diesel.

The agency also argued that a workers’ strike in several U.S. refineries since Feb. 1 is threatening the supply of nearly 64 percent of finished products.

The fuel increase would be the first in eight months, following eight consecutive decreases approved by ASEREP since last July.

At the time, fuel prices reached record highs for Costa Rica with per-liter prices costing ₡816 ($1.54) for “Super,” ₡788 ($1.48) for “Plus” and ₡676 ($1.27) for diesel.

The first decrease approved this year, in force since Jan. 15, was the biggest cut in the past five years.

Facebook Comments

You may be interested

Venezuelan embassy reopens in Costa Rica
News
8 views
News
8 views

Venezuelan embassy reopens in Costa Rica

Alejandro Zúñiga - May 21, 2019

María Faria, the Venezuelan Ambassador to Costa Rica, announced this week that the South American country's embassy in San José…

IACHR mission visits Costa Rica to evaluate protections for indigenous communities
Costa Rica
16 views
Costa Rica
16 views

IACHR mission visits Costa Rica to evaluate protections for indigenous communities

AFP and The Tico Times - May 21, 2019

Representatives of the Inter-American Commission on Human Rights (IACHR) began on Monday a visit to Costa Rica to supervise protection…

Fishing for the next generation in Quepos
Sponsored content
21 views
Sponsored content
21 views

Fishing for the next generation in Quepos

Scott Cutter / Marina Pez Vela - May 20, 2019

Having completed the 20th edition of the Offshore World Championship in May, and the 7th edition of this iconic event…

Do NOT follow this link or you will be banned from the site!