The Minister of Finance, Ricardo Bonilla, referred to the price of fuel in Colombia and warned that, without an adjustment to the price of dieselthe deficit in the Fuel Price Stabilization Fund (FEPC) will end this year in $12 billion.
“If we don’t do anything about diesel, this year it could end up being around $12 billion. He diesel price this year it has not been touched, but last month it went up $97, what went up was biodiesel,” said Minister Bonilla. In addition, he recalled that closing that gap has an impact on inflation.
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For the Minister of Finance, the adjustment would be made gradually in order to avoid these negative impacts on inflation, without detailing when the first increase would be applied. He also highlighted that, if this adjustment occurs, the Treasury portfolio would seek maintain the subsidy to the mass transporters of passengers and food.
“If diesel were suddenly adjusted, which no one is going to do, they would be 1.4 points in inflation because it is an indirect impact, it is a poorly formulated indirect because when they tell us in the transportation sector that it affects, that generates cost overruns in everything”, highlighted the Minister of Finance, Ricardo Bonilla.
It is worth remembering that the Treasury portfolio had already spoken previously on the subject, ensuring that what wait with him ACPMwhich has not registered increases since the end of 2022, is that it has a indirect impact on inflation datagiven that it could influence production and transportation costs and, therefore, the prices of the family basket.
Regarding the price of gasoline, Minister Bonilla assured that a new increase will be evaluatedconsidering the oil price which currently reaches USD $83.77 a barrelcompared to USD $76 and USD $82 at the time.
