The Constitutional Chamber has rejected the appeal filed by deputies against the presidential decree that prevented a 72% increase in LP gas prices and 35% in bunker fuel.
From a statement issued by the Chamber of Industry:
"The Chamber of Industries of Costa Rica has welcomed the rejection by the Constitutional Chamber of the case of unconstitutionality brought by the Deputy of the PUSC Luis Vásquez and other Deputies against the Sectoral Policy of the Executive Power regarding the prices of industrial fuels, corresponding to Executive Decree 39437 of the MINAE, signed in January of last year.This defeats once more the specter of an excessive and disproportionate increase in fuel prices which our industry uses to compete in the world and with the world.
Industrialists in Costa Rica are opposed to the appeal lodged by deputies against the presidential decree that prevented the rise of 72% in the price of LP gas and 35% in bunker fuel.
From a statement issued by the Chamber of Industries of Costa Rica:
The Chamber of Industries of Costa Rica said that nullifying the presidential decree on Sector Policy, as several Deputies want to do, will affect employment.Last week, deputy Luis Alberto Vasquez Castro and other lawmakers presented an appeal to the Constitutional Court against the decree by President Luis Guillermo Solis of January, a decree that prevented the ARESEP from changing the methodology of fuel prices.This presidential decree, put an end to the disproportionate increase in the price of Liquefied Petroleum Gas (LPG), 72%, and bunker fuel, 35%, which are key materials for the industrial sector.
Concern over the serious impact on the productive sector of a 72% increase in gas prices has faded, while accusations of inefficiency and a monopolistic state oil company still persist.
Although the ARESEP is expecting to submit to a public hearing the new pricing methodology which would eliminate the subsidy from the cost of Liquefied Petroleum Gas (LPG), asphalt and bunker fuel, and increase the cost of a 25 pound cylinder from ¢ 6,410 to ¢8,470, the Government of the Republic has decreed a new sector policy for prices, in order to avoid the increases proposed by the regulator.
As a hub of maritime services Singapore is winning the race against Panama, which in the past sold 60 million tons of bunker fuel but now only sells 20 million.
This represents a 40% decline in the 'bunkering' market in Panama, due to several factors, including lack of competitiveness in fuel prices not being oil producer.
The president of the Maritime Chamber of Panama, Juan Carlos Croston, told Panamaamerica.com.pa that "a few decades ago ... Panama was the world's leading supplier of bunker fuel, but today Singapore, thanks to the introduction of policies which promoted competitiveness, accounts for almost 40% of the market. "
The price of bunker in Guatemala has increased 36% over the last 12 months.
In March 2010, the cost per gallon was $ 1.79, reaching $ 2.45 in March 2011.
"Roberto Barrera, independent expert on energy issues, said that bunker maintained an upward trend similar to the barrel of oil," reported Prensalibre.com.
20% of electrical generation in the country is produced by burning bunker.
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