Watch Your Wallet! Government Announces a $400 Increase in the Gallon of Gasoline and Will Study Adjustment for Diesel
The price of a gallon of gasoline will increase by $400 in May. Photo: MinEnergía
TL;DR
- Gasoline price to increase by $400 per gallon nationwide starting May 1st, 2026.
- The increase is attributed to global geopolitical events impacting crude oil prices.
- Brent crude oil averaged $114 per barrel on April 30th, 2026, and has seen significant increases throughout the year.
- An adjustment to diesel prices is also being considered, but it will be lower than the gasoline increase to protect transporters and mitigate inflation.
- Gasoline prices had previously increased by $375 per gallon in April 2026.
- The government views fuel subsidies as unsustainable and illogical.
- The suspension of a minimum wage increase, previously threatened due to interest rate hikes, is now pending review of real income trends.
- President Gustavo Petro had previously stated that the government would implement compensatory measures for the minimum wage if interest rates continued to rise.