Regulating agency cutting price of petroleum products

Both super and plus gasoline will take an 8-cent-a-liter drop as the regulatory agency tries to rebate to consumers 63 billion colons over the next six months.

Super gasoline is going from 706 colons ($1.39) per liter to 666 colons ($1.31). That means the gallon price will drop below the $5 mark.

Plus gasoline goes from 683 colons ($1.34) a liter to 641 colons or $1.26. That is a reduction of 41 colons or about 8 U.S. cents.

Super will cost $4.95 a gallon and plus will be $4.77.

Diesel goes from 636 colons a liter ($1.25) to 599 ($1.18) for a reduction of 37 colons or about seven U.S. cents. The gallon price will be $4.45.

The reduction was promoted by the nation’s consumers organization, said the agency, the Authoridad Reguladora de los Servicios Públicos.

There were reductions approved for others petroleum products including aviation gasoline and jet fuel. The regulating agency said it stopped short of refunding the taxes on the higher priced fuels until it gets a legal ruling.

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