Gasoline in Colombia could rise again: oil triggers alert and opens a millionaire gap
A few days before April begins, expectations are growing about a possible increase in the price of gasoline in Colombia.
TL;DR
- International oil prices, particularly Brent crude, have risen significantly, impacting internal fuel costs in Colombia.
- The current price of Brent crude is around $96 per barrel, up from $60 at the beginning of the year.
- The Fuel Price Stabilization Fund (FEPC) faces fiscal pressure due to subsidies needed when international fuel prices exceed domestic ones.
- ANIF estimates the FEPC's deficit could reach 10.7 trillion pesos this year, adding to a historical cumulative deficit exceeding 130 trillion pesos.
- A gap of approximately 400 pesos per gallon exists for gasoline, and around 5,000 pesos for diesel.
- Gradual adjustments are recommended for diesel prices to avoid direct impact on the transportation sector, alongside competitiveness measures.
- Automatic adjustments are suggested for gasoline prices to reduce future fiscal impact.
- The average price of gasoline in Colombia is currently 15,074 pesos, and ACPM (diesel) is 11,001 pesos.
- Previous reductions in gasoline prices by the government are now contributing to public finance pressure.