Colombia is positioned as the third country with the cheapest fuel in Latin America, according to a ranking published by Global Petrol Prices.
Despite the fact that the constant rises in the price of fuel have been a cause for concern for many, this report reveals that Colombia has cheaper gasoline compared to nations such as Chile and Peru, where the equivalent of 20,000 pesos or more is paid. for a single gallon.
The study shows that only three countries have cheaper fuel than Colombia (although Venezuela is not on the list); the price per gallon is only $0.016. Then Ecuador follows with $10,032 (2.4 dollars) and Bolivia with $8,573 (2.05 dollars). On the other hand, it was highlighted that Uruguay, Chile and Mexico have the most expensive gasoline in the region, with prices of $29,456 ($6.93), $24,786 ($5.88) and $22,364 ($5.37), respectively.
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It is important to mention that since October 2022 there have been staggered increases in the price of gasoline in Colombia. In that month, November and December of the same year, there was an increase of 200 pesos, followed by an increase of 400 pesos in January 2023. In February, the increase was 250 pesos, while in March and April it reached 400 pesos. May and June were months in which the price of gasoline increased by 600 pesos, and the same increase was maintained for July.
This price adjustment aims to close the existing gap between the national and international prices, following a previously implemented strategy. The Minister of Finance highlighted that the accumulated deficit of the Fuel Price Stabilization Fund will reach $70 billion, which is approximately equivalent to four tax reforms.
Despite the aforementioned increases, the fact that Colombia ranks third in the ranking of countries with the cheapest fuel in Latin America is positive news for consumers. However, price stability and the search for more sustainable energy alternatives continue to be relevant issues on the national agenda.