Last Saturday, July 1, the Energy and Gas Regulation, CREG, announced that the price of gasoline in Colombia rose $600 per gallon. This decision is part of a schedule raised by the national government that seeks to reduce the deficit of the Fuel Price Stabilization Fund.
This means that, in Valledupar, the maximum price of a gallon of gasoline is $11,262. The increase was $577.1, according to Fendipetróleo Cesar. The ACPM price remains at $8,079.
“It is important to highlight that, including this adjustment, Colombia continues to have one of the most competitive gasoline and diesel prices in Latin America due to the operation of the Fuel Price Stabilization Fund (FEPC), which has mitigated the inflationary pressure of the increasess of the prices of oil and its derivatives in recent months“Said the Ministry of Finance in a statement.
In cities where there is no border subsidy, the cost of a gallon of gasoline exceeds $13,000, such is the case of Bogota, Medellin, Cali, Barranquilla, Cartagena, and else.
