Costa Rica News – I know most of us living in Costa Rica that drive do not enjoy paying close to $4 a gallon when the rest of the world seems to be at about 25% of that….. well at least in the USA.
ARESEP is the Regulatory Authority for Public Services. Its mayor, Juan Manuel Quesada, explained that there is a forecast for a reduction in the price of oil for this March.
A new method of calculating prices was approved at the end of 2015. The change in price can be attributed to the implementation of this pricing methodology. This is great news because we previously heard that there was a Government decree to maintain prices.
The initial request for the adjustment underwent a public hearing on Thursday. A reduction of ¢10 for super gasoline and ¢9 for regular and diesel was ARESEP’s proposal. This comes out to about $0.08 a gallon reduction. So although you may pay less than a $1 in many places in the USA still plan on paying about the same $4 a gallon in Costa Rica.
Issues including Government subsidies and policy adjustments will be reviewed and an answer is expected on February 15th. An adjustment is considered annually, based on international prices as well as exchange rates.