According to Central Bank estimates, the oil bill paid by the country in 2017 could increase by 24.7% compared to the end of this year.
A recent agreement between oil producers and the expectation of higher prices of raw materials makes the authorities of importing countries consider the potential impact they will face in the coming year.
The bill could rise to $ 1,340 million, a figure well above the $ 1,073 at the end of 2016.
The possible increase in fuel prices already joined as one of the risks the country will face next year, with direct effects on inflation.
According to the Central Bank, for the third quarter of 2016 the Costa Rican hydrocarbon expenses was 16% lower than a year earlier, as a result of the influence of the 24.5% decrease in the price of the hydrocarbon cocktail ($51.3 compared to $67.9 in 2015). Although, in contrast, the number of barrels increased by 11.2% (automotive gasoline and fuel oil).
The growth in oil production due to the advance of new technologies and the discovery of new oil fields, pushed the price of oil downwards in recent years.