Gas prices will increase due to hikes in the world price of petroleum

There is no surprise that gasoline prices will be going up because international petroleum prices have bounced back from historic lows.

The Autoridad Reguladora de Servicios Públicos said Friday that regular gasoline would increase 38 colons per liter and super would go up 40 colons per liter. Diesel will decline 9 colons per liter.

The changes are identical to the changes in the world price on shipments from the United States, the agency said. The Autoridad Regulador recalibrates the price every month.

The state monopoly, the Refinadora Costarricense de Petróleo, imports all its fuel and for years has not actually done any refining.

The price regulating agency also noted that taxes represent from 48 to 40 percent of the pump price.

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