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September 21, 2022
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What is the gasoline subsidy and why are you proposing to change it?

What is the gasoline subsidy and why are you proposing to change it?

Why do you propose to remove the gasoline subsidy?

Precisely in the face of the high prices that barrels of oil have had, the deficit continues to maintain a significant advance, which refers to the contributions of the nation in about $8 trillion, $7.3 trillion pesos disaggregated from cash resources and $675,400 million in dividends that had already been decreed on the results in 2021.

Thus, this money that is collected, as mentioned by the Autonomous Committee of the Fiscal Rule, could be better invested as in subsidies or other government programs to contribute to the solution of major social problems.

At this time gasoline is priced per gallon at approximately $9,256.48 and diesel at $9,093.46so Ecopetrol’s figures as of March this year indicated that the FEPC covered more than 50% of the cost of gasoline and 70% of dieselwhich means that a large part of the price came from state money.

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