A gallon of regular gasoline rises $400 and remains at $10,766 on average

Starting this Wednesday, March 1, 2023, the gallon of regular gasoline in the country will rise between 395 and 406 pesos, depending on the city.

(See: This would cover the deficit of the Fuel Price Fund).

So things, the average price per gallon will be 10,766 pesos, with prices, depending on the city, between 9,225 pesos (Cúcuta) and 11,273 pesos (Villavicencio).

The only capital where fuel will not rise will be in Grass, which has been affected by closures due to landslides on the Pan-American Highway. There the cost will continue to be 8,916 pesos per gallon.

(See: How much could a gallon of gasoline rise in Colombia in 2023?).

“The increase in the price of regular gasoline aims to reduce the fiscal impact of the Fuel Price Stabilization Fund (FEPC) on the National Government due to the dynamics of international refined prices, which have increased due to international factors such as the price of oil and the level of global risk that affected the exchange rate in the country“, was explained.

Also, the ACPM it will not rise either and will maintain its average price of staying at 9,065 pesos per gallon.

“The National Government continues with a policy of stabilizing the ACPM price and, therefore, the income to the fossil producer of the ACPM stabilized by the Fepc was slightly reduced so as not to impact the ACPM price due to the increase in biodiesel“, the authorities explained.

(See: Electric motorcycles: little sold in the country, but cheap to use).

From the Government they insist that if they had not had the operation of the FEPC so far in 2023, the price of current gasoline and ACPM would have been, on average, more than $5,000 and $9,800 above the average sale price current per gallon, respectively, that is: 15,766 pesos (current) and 18,865 pesos (ACPM).

“Even including the increase in the price of regular gasoline, Colombia continues to have one of the cheapest gasoline and diesel prices in Latin America due to the operation of the Fepc, which has mitigated the inflationary pressure of the increases in gasoline prices. oil and its derivatives in recent months” concluded the government.

(See: Fuel consumption will grow 2.5% in 2023).

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