State refinery promises cuts in fuel prices

The state petroleum monopoly said that it is seeking significant cuts in the price of fuel.

The company, the Refinadora Costarricense de Petróleo S.A. said it envisions a cut of 83 colons for super gasoline, a cut of 75 colons for plus or regular and 64 colons for diesel.

The prices are controlled by the Autoridad Reguladora de los Servicios Públicos,which fixes the amounts every month based on the world price of petroleum and the exchange rate, among other factors. Petroleum prices have dipped from about $100 a barrel to $70.

The refinery, known as RECOPE, has been under attack, too, by the Spanish press. There have been revelations that salaries and special payments made under the contract with the employee unions have been excessive. In addition, La Nación disclosed that the way in which the Autoridad sets the price for asphalt is in a way a subsidy paid for by motorists. The newspaper also said there was no sign that the large construction companies passed on these savings to the government in the form of contract reductions for repaving projects.

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