Since midnight drivers will see a reduction of up to ¢28 in the price of fuel.
On Tuesday, the official La Gaceta newspaper published the new rates, recommended by the Costa Rican Oil Refinery (RECOPE) and approved by the Public Services Regulatory Authority (ARESEP).
Prices are effective starting at 12:00 on Wednesday.
The liter of super gasoline will cost ¢597 (reduction of ¢25), gasoline plus or regular ¢569 (reduction of ¢28) and diesel ¢450 (reduction of ¢20).
According to information from RECOPE, these new prices respond to a reduction of the oil price in the international market, which in turn responds to an excess of supply over demand.
On the demand side, the global economic slowdown, mainly in China and other emerging economies, the use of alternative fuels and increased energy efficiency, has reduced the growth rate of hydrocarbon demand,”
said RECOPE in a statement.