Diesel prices will increase: this will apply to vehicles other than freight transport.
Diesel.
Bloomberg
During the presentation of the 2025 Medium-Term Fiscal Framework (MFMP) , it was announced that a decree would be issued to raise the price of diesel (ACPM) to the international level. This, it was announced, would apply to all non-freight vehicles, approximately 28% of vehicles that use this fuel.
(See: Colombia exported 185,000 barrels of marine fuel to the United States .)
" With freight transport, we believe that a slightly different approach is needed, as the mechanism by which this variation in the price of diesel fuel for freight transport is borne by the owners of the cargo being transported is being considered and studied ," explained Finance Minister Germán Ávila.
He also stated that this adjustment, as well as the one made to the price of regular gasoline, " has allowed us to close the gap generated by the debt with the Fuel Price Stabilization Fund (Fepc), but it has left us with a fiscal impact that today represents an expense of 79.6 billion pesos ."
(See: Extra gasoline sales increased more than 40% in April 2025 ).
The Fepc has been bearing a significant tax burden to contain the rise in fuel prices in the country.
Diesel
iStock
Minister Ávila also noted that " it is well known by all that the previous government did not increase the price of gasoline and was creating a fiscal gap that had to be covered by the Fepc and this growth of the fiscal gap that was generated in all the years in which the price of gasoline remained stable was received by the current government, assuming all the impacts of the fiscal gap that this was producing ."
The official added that this forced the current government to make payments to the Fepc in 2022 for 21.4 billion pesos; in 2023 for 28.9 billion pesos; in 2024 for 21.3 billion pesos; and in 2025 for 8 billion pesos.
(See: With less oil in Colombia in the medium term, there will be less fuel production .)
" This totals 79.6 trillion pesos over the fiscal impact on the country's accounts. This is the fiscal gap left by the decision to keep gasoline prices unchanged for these years ," Ávila added.
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