Big cut announced in motor fuel prices

The nation’s regulatory agency said that it has approved a cut in the price of motor fuels to bring them to the lowest levels for gasoline since January 2009.

For diesel, the price is the lowest since May 2006, said the agency, the Autoridad Reguladora de Servicios Públicos.

The prices still are no bargain. A U.S. gallon of regular will be $3.03. Super will be $3.18 a gallon, and diesel will be $2.46 a gallon. The prices that were approved were 424 colons per liter of regular, 445 colons for a liter of super and 345 for a liter of diesel.

The price reductions are 116 colons for a liter of regular (about 22 U.S. cents), 115 colons for super and 106 colons for diesel, about 20 U.S. cents.

The primary reason for the price reductions is the value of petroleum on the world market, said the agency. Costa Rica imports all its petroleum products.

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