The Ministries of Mines and Energy and Finance and Public Credit This Friday they issued the resolutions by which the decision was made to adjust, starting on Saturday, August 31, in $1,904 the retail price of the gallon of diesel fuel.
According to both portfolios, This decision to adjust the price of diesel fuel would generate fiscal savings of $1.6 billion in the remainder of 2024.
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Similarly, according to estimates by the National Government’s economic team, would have an impact on inflation of only 0.3 percentage points by the end of this year.
Increase in diesel fuel in Colombia
“Currently, when a consumer buys diesel at a gas station, the consumer pays less than 50% of the price charged by the refiner or importer of that fuel. The national government, through the Fepc, pays the rest. This has led to a historic fiscal problem that has represented cumulatively, in 2024 pesos, close to $115 billion.“, assures the Ministry of Finance.
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Thus, the cities where the gallon of this fuel reference will have the highest values are Cali ($9,892); Villavicencio ($9,856); Pereira ($9,835); Medellin ($9,777) and Bogota (9,756).
Gasoline
Among the reasons he gave Minister of Finance, Ricardo Bonillaregarding the first increase in diesel fuel after 56 months with frozen prices, there is the unfeasibility of the diesel subsidy for public finances.
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“The subsidy we are giving to diesel can be used, in the accumulated amount of the year, to give a subsidy to all vulnerable families in Colombia, equivalent to more than 500,000 pesos per person. That is the size of our deficit today.“, he assured.
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