American Expatriate Costa Rica

English-language news and information on Costa Rica

  • Home
  • Original Articles
  • News Reports
  • Book Reviews

$89 million saved in oil bill

July 5, 2016 by Staff News Writer

During the first quarter of the year, Costa Rica was able to save 27.8% ($89 million) in the oil bill compared to the same period last year.

The price of a barrel of crude went from $65 in 2015 to $44 this year.

The bill fell despite a 5.5% increase in the amount of imported barrels, according to a report published by the central bank, with official figures between January and March.

Last year, the country had already saved $890 million in the purchase of fuel compared to 2014.

The consulting firm EY noted that both the rise and fall in oil and fuel prices do not hit inflation rates in Central America as fast as in other countries. Costa Rica and Dominican Republic see the impact about three months later.

Paradoxically, that makes Costa Ricans perceive savings in the oil bill with a lag. The clearest example is that last week a rather sharp rise in fuel prices was approved.

In June, oil prices register a downward trend again, which won’t be reflected until September.

crhoy.com

Related articles:

  1. Rise in oil prices does not change BCCR’s projections
  2. Low oil prices hit Costa Rican pockets late
  3. Central Bank stepped in with $ 31 million to prevent further rise in the dollar
  4. Bill would lower taxes only for plug-in electric vehicles
  5. Court says fuel rises can be used to pay employees benefits
  6. Recope requested increases in gas and diesel prices

Filed Under: News Reports

SIGN UP FOR AMERICAN EXPATRIATE IN COSTA RICA

It's free, we respect your privacy and you can unsubscribe at any time.

Connect with Social Media

  • Email
  • Facebook
  • RSS
  • Twitter
Follow @expatcostarica

Search Articles and News Reports

Articles by Publication Date

July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Apr    

News Summary

U.S. President Orders Navy Task Force to Caribbean to Counter Venezuela Threat

Costa Rica Government Silent on Travel Ban with Just 13 Days Left

News Summary

Legislators approve moratorium for registration of shareholders

President confirms gasoline give away for ethanol pilot project

Chinese company sells low cost smart phones in Costa Rica

Search continues for small plane missing in Drake

Farmers will march to the Ministry of Agriculture

IMN warns of dangerous UV radiation this Friday

Copyright © 2010 to 2025 · Link to Legal Notices and Privacy Policy