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Costa Rican oil imports rise by almost 3 percent in 2010, and more increases to come

Wednesday, January 19, 2011

During the past year the Costa Rica’s state-owned oil refinery, Recope, imported 18 million barrels of crude, a 2.6 percent increase from 2009. The average cost per barrel was $80.23. Costa Rica is expected to import an estimated 21.5 million barrels of fuel in 2010, at an estimated cost of $95 per barrel.

The main reason for the increase in prices has been economic recovery, which is driving oil consumption, especially in developing countries that are taking advantage of the weakening dollar.

Original source: Tico Times