MinHacienda confirmed a $500 reduction in the price of a gallon of gasoline starting March 1st
As announced, the Ministry of Finance confirmed that the price of a gallon of gasoline will decrease by $500 starting March 1st.
TL;DR
- The Ministry of Finance confirmed a $500 reduction in gasoline prices effective March 1st.
- This is the second reduction this year, totaling $1,000.
- The average price per gallon will be $15,057 in 13 major cities.
- Villavicencio, Cali, and Bogotá will have the highest prices, while Pasto, Cúcuta, and Cartagena will have the lowest.
- Experts suggest a price gap of $3,006 between Colombian and international gasoline prices even after the adjustments.
- There's a debate about the impact of diesel subsidies on the overall fuel price stabilization fund.
- The price of gasoline was $16,491 per gallon at the start of 2026, with a $3,627 difference from the international price.