Thursday 05 February 2009, San José, Costa Rica

 
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Gasoline Prices in Costa Rica Going Up Next Week. UH???

Although the international price for a barrel of crude oil has maintained below us$50 a barrel, fueling low prices around the world, in Costa Rica, gasoline prices are going up next week. Yup, you read it right, gasoline prices are going UP!

The Autoridad Reguladora de los Servicios Públicos (Aresep) yesterday approved an increase of ¢16 for the price of a litre of super, ¢18 for regular and ¢3 for diesel.

This is the first increase following four consecutive price drops.

The increase is based on a request by the Refinadora Costarricense de Petróleo (Recope) - state refinery - based on the increases of the price of crude oil on international markets during the month of January.

José León Desanti, Recope president, defended the increase by saying that a careful market analysis was made to warrant an adjustment in the price of fuel.

For his part, the regulador general, Fernando Herrero, said that as prices can drop at any time, they can also rise.

Many yesterday criticized the Aresep decision, bewildered as to why an increase when oil prices have been dropping.

The price of crude dropped from a high of us$150 a barrel to us$100 six months ago to the current below us$50. However, prices at the pumps in Costa Rica did not start to come down until December, after they reached a high of ¢734 for super, ¢721 for regular and ¢726 for diesel.

And now an increase?

Pura Vida, Mae!
 
 
 
     
 
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