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The price of gasoline in Colombia will increase by about five cents a gallon every month until the end of the year. This announcement was made by the government due to a shortage due to a subsidy for this gas.
The increase, which is applied over and above the current $2/gallon price, comes as the country registers annual inflation of 10.8%, the highest since 1999.
“Gasoline this year will increase by 200 pesos per month starting in October,” Finance Minister José Antonio Ocampo told the press. However, he pointed out that diesel is mainly used in public and freight transport in Colombia will not increase.
President of Colombia Gustavo Petrowarned that the current price of gasoline is unstable due to the increase in the cost of crude oil from 2020.
The State Fund covers the difference between fuel prices on the international market and domestic prices set by the government. In March 2020, the latest administration cut gasoline and diesel to help mitigate the economic impact of the pandemic.
Crude oil was trading at historic lows at the time, but the exponential rise in its price throughout 2021 and earlier this year did not lead to higher fuel prices in Colombia as decided by then President Ivan Duque.
“Almost half of the state budget deficit is due to the fact that gasoline prices do not rise,” Piotr explained a few days ago, announcing that he would raise prices.
Petro asks Maduro to be the guarantor of peace talks with ELN
On the other hand, Colombian President Gustavo Petro has asked his Venezuelan counterpart, Nicolás Maduro, to act as guarantor of the peace talks that his government plans to resume in the coming weeks with the National Liberation Army (ELN) guerrillas. The government confirmed on Tuesday.
Petro made a request to Maduro in a letter asking him to “activate him as a guarantor country, allow and cooperate in the peace process that we are resuming.”
In a letter published by the President of Colombia, Petro highlights Maduro’s “invaluable contribution to the fulfillment by the Colombian state of the obligations assumed in building peace in our country.”
In conclusion, the President notes that “the government and people of Venezuela have always offered their effective support for the final overcoming of the Colombian armed conflict.”
(According to AFP)
Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.