After months of back and forth, the National Government announced that the price of diesel (ACPM) will increase. According to the Minister of Finance, Ricardo Bonilla, the adjustment will be $6,000, which They will be applied to the value of the gallon on a semi-annual basis in three increases of $2,000 each.starting this 2024.
(Read more: Inflation could be impacted by 2% with the $6,000 increase in diesel)
“We see that there is no possibility of an agreement with the transporters and the total gap is $6,000. The increase is planned to be made in three adjustments, with a six-month gap between each one.”said the Ministry of Finance.
According to Bonilla, the objective with this measure is to align the value of this fuel with the international average, as well as Closing the gap in the Fuel Price Stabilization Fund (FEPC) in order to contribute to the soundness of public finances.
(Read more: Diesel price adjustment will be $6,000: this is how the increases will be applied)
Figure of the day:
⛽️ A $2,000 adjustment in the price of diesel fuel would only add 0.3 percentage points to inflation in 2024.
The goal is to align your value with the international average! pic.twitter.com/vzroTO5tyE
— MinHacienda (@MinHacienda) August 23, 2024
(See: Government and unions failed to reach agreement on diesel price increase)
However, the most latent concern regarding the rise in the price of diesel fuel is the impact that this will have on inflation. In this regard, the Treasury Department has indicated that The first adjustment of $2,000 would add 0.3 percentage points to the 2024 CPI.
However, experts point out that each of these increases could impact the cost of living by 0.6% and the three together would increase the cost of living by 2%.
It is worth remembering that the value of diesel has been frozen since January 1, 2020, meaning that the average price per gallon is currently $9.456.
(See: These are the cities in the country where the cost of living rose and fell the most in July)
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