When the clock strikes midnight this Wednesday, February 7, the new fuel cost rates will come into effect.
It is specifically a reduction of ₡13 on regular gasoline, as well as ₡23 on the cost of diesel, while the super will experience an increase of ₡26.
The amounts that will come into force in the next 12 hours It was published in Scope 20 in the Official Gazette of La Gaceta this Tuesday.
Regular gasoline will go from ₡679 to ₡666 per literwhile diesel will drop from ₡632 to ₡609, according to data set by the Public Services Regulatory Authority (Aresep).
Meanwhile, super gasoline will rise ₡690 to ₡716in accordance with what is projected by the regulatory body and published in the Official Gazette.
Among Aresep’s considerations for setting the price are the following points:
- According to the EIA (Energy Information Administration) it indicated that Distillate inventories increased in the first week of Decemberfavoring supply levels.
- Saudi Arabia decided to reduce prices due to increased competition in production and the increase in oil supply, this has been the lowest price in the last 27 months.
- Besides, Manufacturing indices have shown a contraction in the United Statesthe Eurozone and China, has contributed to the decrease in price.
- Geopolitical tensions in the Middle East it is the main variable that has helped the price increase, given the constant attacks on oil cargo ships by Houthis that have occurred in the Red Sea, in addition to the incursion of other countries into the conflict such as the United States, the United Kingdom, Australia, Yemen and Iran.
- The acquisition costs obtained for the main products, whose dates range from December 8, 2023 to January 11, 2024, are as follows: in the case of RON 95 gasoline, a value of ₡313.70 per liter was obtained, for RON 91 gasoline it was ₡ 278.82 per liter, while for diesel the acquisition cost obtained is ₡331.75 per liter. The acquisition cost of the rest of the products was detailed in the report.
- During the calculation period, the average selling exchange rate for the non-banking public sector of the colón with respect to the dollar (CRC colones/US dollars), published by the Central Bank of Costa Rica, was ₡522.77, which if compared to that used in the previous extraordinary fixation ₡532 .99 registered an appreciation of ₡10.22 per dollar.
- Appreciations favor price reductionswhile depreciations put upward pressure, because purchases are made in dollars.
- In determining the Sectoral Policy subsidy (Executive Decree 39437-MINAE) for liquefied petroleum gas, bunker, asphalt and asphalt emulsion pricesthe provisions of Decree 42352 – MINAE are complied with, by which jet-fuel is eliminated as a subsidizing product, as well as Decree 43576-MINAE, which eliminates the subsidy established for asphalt and asphalt emulsion.
- As a result of the application of subsidies, the amount of the total subsidy of the national non-sport fishing fleet amounts to ₡40.58 million to be transferred in February 2023 and in the case of the subsidy related to the Sector Policy, the total amount to be subsidized amounts to ₡3,216.76 million.