Stronger dollar continues to drive increases in regulated motor fuels

The U.S. dollar keeps gaining value against the Costa Rican colon, and that makes many expats who receive their income from overseas happy.

But their joy will be diminished when they go to the service station for a fillup. The agency that regulates prices is increasing the cost of fuel again, mostly based on the increased valued of the U.S. dollar. However, the Autoridad Reguladora de Servicios Púbicos is behind by a month and by 11 colons.

The agency said it was basing it new price on the international cost of petroleum and the exchange rate to buy a U.S. dollar  of 510.13 colons. That was the price in early April.

However, the Banco Central de Costa Rica said the price to buy a dollar today is 561.26 colons.

The new fuel prices will go into effect as soon as they are published in the official La Gaceta newspaper.

The agency said that super gasoline was going from 756 colons per liter to 773 colons and that plus gasoline was going from 723 to 752. Diesel actually was going down a single colon to 574.

There was no clear explanation for the changes.

The result of the increases is that plus gasoline will break the $5-a gallon-mark. A U.S. gallon will cost $5.07 at the new price of 752 colons per liter, which is up 29 colons. Super will be $5.21, up 11 U.S. cents from the last price fixing in early April.

Diesel will continue to be $4.55 per gallon.

The agency noted that the value of the U.S. dollar has increased 50 colons since January.

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