To curb the deficit of the Stabilization Fund, the price of gasoline in Colombia should rise $1,000
The price of gasoline is once again in the eye of the storm, this after President Gustavo Petro confirmed that gasoline will not be subsidized...
TL;DR
- The Fuel Price Stabilization Fund (Fepc) in Colombia could face a deficit of around $10.7 trillion by 2026 if internal fuel prices are not adjusted.
- The current price of gasoline is approximately $1,100 below the international price, and failing to adjust could lead to monthly subsidies of around $200 billion.
- The deficit in the Fepc for March is estimated at $1.2 trillion, with projections for gasoline showing a $800 per gallon differential and diesel a $5,700 per gallon differential compared to international prices.
- The Fepc has accumulated a deficit of nearly $125 trillion since its creation in 2007, with projections indicating it could reach $136 trillion by 2026.
- The price of diesel is $8,300 below the international price, potentially generating subsidies of $1.3 trillion in April.
- International fuel prices have risen due to geopolitical tensions in the Middle East, with gasoline prices increasing by 60% since late February.