Government announces monthly increase in gasoline price

Government announces monthly increase in gasoline price

The Ministry of Finance announced that it is seeking to alleviate the fiscal pressures that have been caused by el Fuel Price Stabilization Fund. For this reason, the ministry proposed a gradual convergence plan between Producer Income (IP) and international parity prices.

(Read: Which Gas Saving Techniques Really Work and Which Don’t).

Consequently, in the 2022 Medium-Term Fiscal Framework, announced by Minister José Manuel Restrepo, as of June there will be iMonthly increases in Income to the Producer (IP)both in gasoline and ACPM, of 200 pesos in June and July and 250 pesos in August 2022.

Along with this, from September of this year there will be gradual and sequential increases in 400 and 250 pesos per monthuntil clearing spreads close.

Under this scenario, the Treasury portfolio projects that the fund’s deficit, which in March was 14.1 billion pesos will be reduced gradually.

(In addition: Mid-year premium: they ask to advance the payment of this benefit).

However, they also clarified that it will depend on the next government to determine the rate of adjustment to internal fuel prices with the possibility of materializing the proposed increases.

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