Price regulator backs down on proposed cut in gasoline profit

Service station operators will not call a work stoppage this week.

The Autoridad Reguladora de Servicios Público said Wednesday afternoon that it was suspending a 5 colon reduction in the gross profit of every liter of gasoline.

Service station operators were unhappy when the price regulating agency issued this directive.

A local appeal failed and the Poder Judicial announced also Wednesday afternoon that a Sala IV constitutional appeal by the Cámara de Empresarios de Combustibles also had failed.

The board of directors of the Autoridad said that it was suspending the cut in price to avoid irreparable damages. The original price cut was issued by the energy section of the
Autoridad. The cut was scheduled to be published in the official newspaper Friday.

The Autoridad not only sets the price of gasoline and other petroleum fuels but it also establishes a profit margin for service stations.

In the case of gasoline that was 43.45 colons per liter. The Autoridad cut that to 37.97 colons. The margin was around 8 U.S. cents. The Autoridad cut that by one cent.

The margin for diesel got a 6-colon cut.

The change in the profit margin came from elaborate computations made by the Autoridad. The service station appeal was based on the specifics of these techniques.

The Cámara de Empresarios de Combustibles earlier made an unsuccessful appeal directly to the Autoridad. Autoridad. The cut was scheduled to be published in the official newspaper Friday.

The Autoridad not only sets the price of gasoline and other petroleum fuels but it also establishes a profit margin for service stations.

In the case of gasoline that was 43.45 colons per liter. The Autoridad cut that to 37.97 colons. The margin was around 8 U.S. cents. The Autoridad cut that by one cent.

The margin for diesel got a 6-colon cut.

The change in the profit margin came from elaborate computations made by the Autoridad. The service station appeal was based on the specifics of these techniques.

The Cámara de Empresarios de Combustibles earlier made an unsuccessful appeal directly to the Autoridad.

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