World News
Costa Rica Could See 35% Hike in Bunker Fuel Prices
Bunker fuel prices in Costa Rica could rise 35 percent under new measures being contemplated by regulators in the country, local press reports.
ARESEP, the authority for public prices and services, was said to be advancing a proposal to reduce the price of gasoline and diesel in the country by 2 percent.
But the Chamber of Industries of Costa Rica was quoted as warning that the measure could result in increased bunker fuel rates, as well as a 72 percent rise in the price of gas.
The proposal is "encouraging consumption rather than production," said Enrique Egloff, Chamber president.
Egloff also noted that the measure "will bring a high cost because it will bankrupt industrial companies that use bunker fuel."
In November, Ship & Bunker reported that World Fuel Services was looking to hire 70 personnel as part of a company expansion in Costa Rica.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 491.00 | 2.50 | 592.50 | 16.50 |
| Rotterdam | 445.00 | 13.00 | 593.50 | 11.00 |
| Houston | 443.50 | 6.50 | 601.50 | 5.50 |
| Fujairah | 487.00 | 10.50 | 711.00 | 12.00 |
| Global 20 Ports Average | 517.50 | 1.50 | 697.00 | 3.00 |
| Global 4 Ports Average | 466.50 | 3.50 | 624.50 | 0.00 |
| Global Average Bunker Price | 559.50 | 2.50 | 736.00 | 2.00 |
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