Increase Between 53 and 57 Colones Per Liter in Fuel Starting this Wednesday: Record Prices in Costa Rica

    This is the third consecutive rise

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    Early this Wednesday, March 2nd, an increase of up to ¢57 per liter of fuel will be applied. With this new rise, the prices of hydrocarbons in Costa Rica reach record figures, prices per liter never before registered in the country.

    This is the third consecutive increase applied to fuels this year and represents increases of:

    Super gasoline: ¢57

    Regular gasoline: ¢56

    Diesel: ¢53

    The application of the increase occurs after the resolution approving the adjustment by the Public Services Regulatory Authority (Aresep) was published this Tuesday, in the official newspaper La Gaceta.

    With the approved increases, the new prices will be:

    Super: ¢765 to ¢822

    Regular: ¢748 to ¢804

    Diesel: ¢671 to 724

    According to the records of Aresep and the Costa Rican Petroleum Refinery (Recope) itself, the costs per liter of fuel that will govern as of this Wednesday are the highest in history, surpassing the highest record of 2014 when, for example , the liter of super gasoline reached ¢816.

    “The upward trend in the international prices of refined producers that Costa Rica imports, as well as in the exchange rate, are the two factors that explain the increase requested by Recope, corresponding to the extraordinary adjustment of fuels corresponding to the month of February, adjustment that will come into force the day after its publication in La Gaceta”, explained the energy mayor, Mario Mora.

    Three increases

     So far in 2022, three increases in hydrocarbon prices have been applied, two correspond to extraordinary adjustments requested by Recope and the third was due to the adjustment to the single fuel tax charged by the Government.

    The upward trend in the international oil market continues and worries national authorities, even more so considering that Russia’s invasion of Ukraine is impacting prices.

    Given this, various measures are announced at the national level, for example, it is proposed to freeze the adjustments in the single fuel tax, as well as the formation of an “inter-institutional team” that will be in charge of “monitoring the incidents that may be generated in terms of socioeconomic impact in the country,” reported the Executive Branch.

    Resonance Costa Rica

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