• Costa Rica Coffee Guide

State-owned oil refinery forced to return improperly spent funds through new cut in fuel prices

April 29, 2015

The Public Services Regulatory Authority (ARESEP) on Wednesday ordered the state-owned Costa Rican Oil Refinery (RECOPE) to lower fuel prices in order to return to the public ₡1,109 million ($2 million) spent improperly per the results of an audit.

The investigation was conducted in late 2014 at the request of lawmakers from the Legislative Commission on Public Spending and Income Control.

The irregularities correspond to expenses reported by RECOPE during the expansion and modernization project of a refinery in the Caribbean port of Limón, which is being carried out in partnership with China National Petroleum Corporation (CNPC).

The expenses, including salaries, airline tickets, travel expenses and professional services, were filed by RECOPE in one of its requests to ARESEP to raise fuel prices.

Lawmakers said those expenses should have been absorbed by CNPC, not charged to Costa Ricans at gas pumps.

In its audit, ARESEP concluded that the expenses “should never have been financed using RECOPE’s funds.”

ARESEP’s energy office proposed that RECOPE return the funds to the public by reducing fuel prices between ₡4.5 and ₡5 (some $0.01) per liter.

The reduction will likely come in July.

Last week ARESEP approved a price reduction ranging from ₡1 to ₡5 per liter, which will take effect on Friday.

You may be interested

Costa Rican diet contains too much salt, Health Ministry says
Health
4746 views
Health
4746 views

Costa Rican diet contains too much salt, Health Ministry says

Alejandro Zúñiga - March 9, 2021

The average Costa Rican adult consumes twice the recommended value of salt each day, according to the Health Ministry. Ticos ingest…

Costa Rica creates commission to address gender unemployment gap
Costa Rica
2552 views
Costa Rica
2552 views

Costa Rica creates commission to address gender unemployment gap

Alejandro Zúñiga - March 9, 2021

In context of International Women's Day, Costa Rican leaders on Monday signed a decree to create a commission to address…

Vaccinated people don’t have to self-isolate after Covid contact
Costa Rica
16423 views
Costa Rica
16423 views

Vaccinated people don’t have to self-isolate after Covid contact

Alejandro Zúñiga - March 8, 2021

People who are fully vaccinated against Covid-19 won’t have to isolate if they are a close contact to someone who…