The Government Orders a New Gasoline Reduction: $1,000 per Gallon in Less Than 30 Days
Minister of Mines and Energy, Edwin Palma Photo: MinEnergía X
TL;DR
- The price of regular gasoline in Colombia has been reduced by $500 pesos per gallon, effective March 1st.
- This brings the total accumulated reduction to $1,000 pesos per gallon since February.
- The price of diesel fuel remains unchanged.
- The reduction is attributed to an "ordering of the price system" and the "progressive cleanup" of the Fuel Price Stabilization Fund (FEPC).
- The Ministry of Mines and Energy assures that the adjustment will not compromise economic stability or the FEPC's sustainability.
- The price reduction will be applied uniformly across the entire national territory.
- The measure aims to ensure balanced conditions for transportation, the productive sector, and citizen mobility, while alleviating the cost of living and supporting economic activity.