Gas prices in Costa Rica to drop this week

Prices of premium and regular unleaded gasoline will drop by ₡24 and ₡22 per liter respectively this week, thanks to a new fuel price setting approved by the Public Services Regulatory Authority (ARESEP).

The agency passed the cut in fuel prices after taking into account recent changes in the international price of oil.

The price calculation also resulted in lower prices for diesel, though the per-liter price will go down by only ₡5.

New fuel prices will come into effect the day after their publication in the official newspaper La Gaceta, which is expected to occur later this week.

Approved cuts mean a liter of premium, commonly known as “Super,” will go from ₡590 to ₡566 ($1.60-1.01). A liter of regular, known as “Plus,” will drop from ₡563 to ₡541 ($1.01-0.97), and a liter of diesel will slip from ₡448 to ₡443 ($0.80-0.79).

This is the third cut in gas prices approved this year. ARESEP in late July approved a ₡13 cut in the per-liter prices of Super and Plus gasoline, as well as a ₡4 reduction for a liter of diesel.

The National Oil Refinery said growing inventories recorded between July 28 and Aug. 11 translated into lower costs for finished fuels acquired this month.