2024-08-04 14:30:37
The Energy and Gas Regulatory Commission (Creg) has announced an increase in fuel prices, which will come into effect on August 3, 2024. The reference price of a gallon of gasoline in Bogotá will be adjusted to $15,985, while that of ACPM (diesel) will be $9,756.
This increase in fuel prices is due to a number of factors, including fluctuations in the international oil market and regulatory policies in the energy sector in Colombia. According to the Creg, these new rates will be applied at all service stations in Bogotá, with the aim of aligning local prices with current production and distribution costs.
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The president of the Xua Energy Foundation, Julio César Vera, explained that the rise in the price of diesel is due, in part, to a $980 increase in the cost of biodiesel, a key component in the country’s fuel mix. On the other hand, the increase in the price of gasoline is related to the need to increase savings in the Fuel Price Stabilization Fund (Fepc), a mechanism intended to smooth out variations in oil prices on the international market.
Despite these increases, Vera pointed out that the price of gasoline in Bogotá is still around $880 per gallon higher than the international price, which will allow for savings of approximately $160 billion pesos for the Fepc during the month of August. In contrast, the price of diesel is almost $5 billion below the international price, which will generate a loss of more than $880 billion pesos for the fund in the same period.
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This adjustment in fuel prices will have a direct impact on the local economy, especially on the cost of transportation and the prices of goods and services that depend on the transport of goods.