No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsBusinessGas prices to drop in August

Gas prices to drop in August

Fuel prices at the pump will be ₡4.74 cheaper per liter starting next month, following orders signed by the Public Services Regulatory Authority (ARESEP) last Friday.

ARESEP officially informed the state-owned Costa Rican Oil Refinery (RECOPE) that it has to lower fuel prices in order to return to the public ₡1,109 million ($2 million) spent improperly.

Results from an audit conducted in late 2014 at the request of lawmakers from the Legislative Commission on Public Spending and Income Control found irregularities in expenses reported by RECOPE during the expansion and modernization of its refinery in the Caribbean port of Limón.

According to the audit RECOPE improperly included project costs such as salaries, airline tickets, travel expenses and professional services in one of its requests to ARESEP to raise fuel prices. Those expenses should have never been charged to Costa Ricans at gas pumps, the investigation found.

The price cut announcement comes just a week after a price hike went into effect. Higher per liter prices ranging from ₡16 to ₡29 entered into force last week for Diesel, Super and Plus gasoline.

Trending Now

Costa Rica Residency Backlog Hits 38,000 in October

Immigrants in Costa Rica continue to deal with long waits for their residence cards, known as DIMEX, as the immigration system struggles with backlogs....

Uncertainty Dominates Costa Rican Voters Ahead of 2026 Elections

A new poll from the University of Costa Rica's Center for Political Research and Studies (CIEP-UCR) paints a picture of widespread indecision among Costa...

Selva Coral Introduces Costa Rica’s Most Flexible Real Estate Investment Model

Immediate delivery with only 10% down and income generation during peak season South Jacó, Costa Rica – October 2025. While most real estate projects in...

Latin America Questions US Boat Strikes in the Drug War

US military strikes that Washington claims have targeted "narco-terrorists" ferrying drugs to American soil are having little to no impact on Latin America's bustling...

Venezuela’s Maduro Asks Court to Strip Opposition Leader of Citizenship

Venezuelan President Nicolás Maduro has filed a request with the country's Supreme Court to revoke the nationality of opposition leader Leopoldo López, accusing him...

Guatemala’s Prison Escape and Central America Security Risks

Guatemala faces ongoing challenges with gang activity, and recent events highlight how these groups test the system's limits. On October 12, officials announced that...
L. Arias
L. Arias
Reporter | The Tico Times |
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica