During her visit to the city of Villavicencio, the Minister of Mines and Energy, Irene Vélez Torres, informed that for the month of June gasoline will have an increase of 600 pesos throughout the national territory. In addition, she highlighted that the value of the ACPM will remain unchanged so far.
The head of portfolio mentioned that the new gasoline prices will start after signing the decrees. “The increase in gasoline this month is 600 pesos, the same amount of increase that occurred the previous month,” she announced.
In this way, Vélez explained that the increase is to clean up the existing deficit in the Fuel Price Stabilization Fund (Fepc). The progressive increase in fuel prices occurs in order to reduce the debt that has a fiscal gap of 36 billion pesos.
“What we are doing with this measure is that this gap does not continue to widen because those are the resources that are needed for other social purposes of this government,” the minister explained.
It must be taken into account that last Wednesday, May 3, the price of a gallon of gasoline increased by an average of 600 pesos per gallon throughout the country. According to what the Ministry of Mines and Energy revealed at that time, the price of this fuel for sale to the public was an average of 11,767 pesos per gallon. For their part, diesel prices remained stable, standing at more than 12,000 pesos per gallon.
As has become customary, the price of gasoline has been increasing progressively. When the government of Gustavo Petro began at the head of the Presidency of the Republic, in October 2022 the price of gasoline began to rise, and this increase was 200 pesos, leaving 9,723 pesos as a reference value. In November it rose again by 200 pesos, the same as in December 2022, closing the year with a price of 9,778 pesos.
The new year brought with it a greater increase, since it went from 200 pesos to 400 pesos per gallon of fuel, reaching 10,167 pesos. In February 2023, this increase was 250 pesos and the reference price was 10,399 pesos per gallon.
In March it rose again by 400 pesos and, therefore, the price per gallon in the main cities was 10,766 pesos. In April, the increase made by the Government was for 400 pesos, and the reference one exceeded 11,000 pesos, remaining at 11,167 pesos.
A gallon of gasoline should reach $16,000 by the end of the year, according to the Ministry of Finance
The Minister of Finance, Ricardo Bonilla, explained and made an analysis of what can be expected by the end of 2023.
“The limit is to balance prices, in the last months or days the price of oil began to drop, that would have an effect on the international price (…) in 6 or 7 months we should be able to balance prices (…) the The long-term project is for Colombians to start demanding other types of cars, Colombians continue to buy fossil fuel cars, for example, those who have cars that consume premier will feel an impact,” he said.
“(…) By the end of the year, a gallon of gasoline should be at $16,000,” he highlighted during his participation in a seminar entitled “Towards inclusive, sustainable, and equitable global taxation,” organized by the Dian (Tax and Customs Directorate National), the center for economic studies Fedesarrollo (Foundation for Higher Education and Development) and the Ministry of Finance.
Since the announcement of the fuel increase was known, the minister assured that the price would continue to rise, at least for the next two years. In addition, he clarified that there is a gap with the international price of 4,700 pesos in regards to regular gasoline. with Infobae