At the end of August, the National Government increased the price of a gallon of diesel (ACPM) at $1.904, the first of three increases that had been agreed to compensate for the gap in the Fuel Price Stabilization Fund (Fepc).
The increases, as agreed, will total $6,000 and will be made until 2025: one this year (the one that has already been made) and two more next year. The idea is that a gallon of fuel will reach approximately $15,000.
The Government has insisted that the increase is necessary to reduce the country’s deficit, as well as equalize the price of diesel fuel with other countries in the region.
That being the case, According to information provided by the Ministry of Finance based on a Global Petrol Prices report as of August 26, 2024, these are the countries with the cheapest diesel gallon prices in America:
The protest has now lasted 24 hours.
Cesar Melgarejo
(See also: The Ministry of Finance confirms that the September increase in diesel fuel will continue)
1. Venezuela.
According to the report, Venezuela has the cheapest gallon of diesel in the region, costing 0.01 dollars (41 Colombian pesos).
2. Ecuador.
The value of a gallon of diesel in Ecuador is 1.77 dollars, equivalent to 7,388 Colombian pesos
3. Bolivia.
The value of a gallon is 2.03 dollars (8,200 Colombian pesos).
4. Colombia.
Despite the increase in the price of diesel so far in the country, Colombia still has one of the cheapest gallons of diesel in the region. Currently, the price of a gallon is 2.79 dollars, equivalent to 11,360 pesos.
5. Panama.
The value for each gallon is 3.16 dollars, that is, 12,476 Colombian pesos.
6. Puerto Rico.
The price of a gallon is $3.18, or 12,818 Colombian pesos.
(See also: Passenger and freight rates could rise more than 7% after the first diesel price hike in the country)
Truckers strike.
THE TIME
On the other hand, the countries with the highest price per gallon are:
1. Mexico.
The country with the most expensive price per gallon in the region, which amounts to 4.96 dollars. That is, 19,997 Colombian pesos.
2. Uruguay.
The value of a gallon is $4.93, equivalent to 19,870 Colombian pesos.
3. Argentina.
The value of each gallon is 4.78 dollars, that is, 19,257 Colombian pesos.
4. Costa Rica.
The value of a gallon is $4.46, equivalent to 17,961 Colombian pesos.
5. Nicaragua.
The value of a gallon of diesel in Nicaragua is $4.44, equivalent to 17,889 Colombian pesos.
(See also: Diesel prices by city, after the first increase of almost $2,000)
It is important to highlight that The value of a gallon of diesel in the United States is $3.64. That is, 14,710 Colombian pesos, the price that Colombia is expected to reach by the end of 2025.
“Adjusting the price of diesel to the international value is crucial to reduce the Fepc deficit, meet the needs of the economy and ensure long-term fiscal sustainability,” the Ministry of Finance reiterated through its official X account.
PORTFOLIO
