The nation’s price regulating agency plans to revise the way fuel prices are computed. The new proposal will be presented to the public March 10.
The Refinadora Costarricense de Petróleo is the state-owned fuel monopoly, and it has been criticized for the excessive costs of its operation. The firm has not actually refined fuel for years and simply imports the product and distributes it.
The Autoridad Reguladora de Servicios Públicos computes the price of fuel each month based on international prices and the dollar exchange rate. Fuel prices have not fallen as abruptly as the international price.