The Energy and Gas Regulation Commission (Creg) announced that the gallon of gasoline obtained a maximum of 406 pesos as of this Wednesdayfirst of March, in some cities of the country.
This new increase will not apply to the city of Pasto (8,916 pesos) and the rest of the department of Nariño that has been affected by the closure of the Pan-American Highway for almost two months.
(Also read: Gasoline: a gallon in Colombia could reach up to 16,000 pesos this year)
On average, the increase will be 367 pesos and will cost 10,766 per gallon. However, when reviewing the data by city, it is found that in Bucaramanga the increase will be 406 pesos, while in Bogotá and Villavicencio it will be 400 pesos.
Thus, in most cities a gallon of gasoline will cost more than 11,000 pesos, as is the case in Bogotá (11,173 pesos), Medellín (11,109 pesos), Cali (11,207 pesos)Villavicencio (11,273 pesos), Pereira (11,150 pesos), Manizales (11,162 pesos) and Ibagué (11,115 pesos).
Gasoline prices by cities
With this new rise in the price of gasoline is intended to reduce the fiscal impact of the Fuel Price Stabilization Fund (FEPC) on the National Government due to the dynamics of international prices of refined products, which have been due to international factors such as the price of oil and the level of global risk that affected the exchange rate in the country.
(Also read: Ecopetrol’s earnings of $33.4 billion in 2022, the highest in its history)
According to the Ministry of Finance, even including the increase in the price of regular gasoline, Colombia continues to have one of the gasoline prices and the cheapest diesel in Latin America due to the operation of the FEPC, which has mitigated the inflationary pressure of the increases in the prices of oil and its derivatives in recent months.
Had it not counted on the operation of this fund, so far in 2023 the price of current gasoline and Acpm would have been, on average, in more than 5,000 pesos and 9,800 pesos above the prevailing average sales price per gallon, respectively.
Regarding the Acpm, the sale price to the public in the different cities of the country will not have any adjustment and will remain at 9,065 pesos per gallon.
