The Minister of Mines and Energy of Colombia, Omar Andrés Camacho, provided details this Monday -June 17- about what is coming for the country in terms of fuel increases, especially what will happen to the price of diesel in Colombia by 2024.
“Within this fiscal review and adjustments to the country’s economy, we found ourselves with many debts: one of them, the tariff option, and another of the large debts was that of the Fuel Price Stabilization Fund (FEPC), hence the need to close the deficit that we already achieved with gasoline,” said the minister.
And he added that There is still the task of achieving the objective of closing the gap, but from the diesel side.
“The objective has been to not touch the segments that depend on diesel and that are important for the economy, especially for the popular (the most everyday thing for people) such as public transportation, transportation of food and some merchandise. “Those are sectors that are exempt from the measure that we have adopted today,” the official stressed.
According to Camacho, this measure – with the increase in diesel prices, which was announced on June 7 of this year – It is intended that large consumers (except those mentioned above) in the country have a full fuel rate. For example, large industries, consumers of gallons of diesel, among others.
Recommended: Petro Government will increase the price of ACPM for large consumers
“The full rate will be applied to these sectors so that they allow us to close the debt that remained in the Price Stabilization Fund. It is a measure that we have already worked on with the Ministry of Finance and that is soon to be issued,” announced Omar Andrés Camacho in an interview with La República.
He added that this measure will cover several companies that operate in the country, including Ecopetrol – which in turn has its fuel subsidized. “It is illogical that we have this subsidy for large consumers, when they can use their economy and resources to pay the full diesel rate in Colombia and close that debt that is important for the country”.
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Petro Government will increase the price of ACPM for large consumers
The Minister of Finance of Colombia, Ricardo Bonilla, announced from the Asobancaria Banking Convention in Cartagena that the Government of President Gustavo Petro will make decisions in the next two weeks on the price of a gallon of ACPM (diesel).
He explained that this increase will initially impact large consumers of that fuel, which includes freight trains and other sectors such as mining and hydrocarbons.
“The first measure against diesel must come out within 15 days, which is to increase the price of large diesel consumers, which are companies that tank in another way,” Bonilla said.
It should be noted that these are companies that are in charge of transportation for the extractive sectors.
The rest of the prices for cargo and food transportation will continue to be negotiated with the leaders of the sector because they may have implications for various aspects such as food.
It is worth remembering that, at the end of 2023, the Ministry of Finance and the Ministry of Mines and Energy issued a decree that sought to incorporate a mechanism differential of the stabilization of ACPM prices for large consumers.
With this measure, the Government seeks to ensure that large consumers do not have greater benefits from the Fuel Price Stabilization Fund (FEPC), eliminating the subsidies they have.
The future increase in the ACPM both for large consumers and for the rest of Colombians seeks to close the FEPC deficit, as has already happened with gasoline, which went from $9,000 per gallon to $15,000 now tied to international prices.
