We are rebuilding our fuel price database to capture more information while making it easier to update. Here is the first new chart, gasoline prices by city over time, here summarized to make it easier to read.
Writing on X on March 22, 2026, President Gustavo Petro outlined his government’s response to the prospect of oil prices climbing to US$180/barrel by May – a scenario flagged by Saudi Arabia – placing Ecopetrol at the center of a new fertilizer subsidy mechanism while firmly closing the door on gasoline subsidies.
Some readers may think we are ignoring the sector’s most important news: the Iran War and its impact on oil prices. Instead, we worry about reporting things you already know, especially those that are widely reported global stories. Here we update our price charts for those who use them and try to make relevant Colombia-specific comments on what are rapidly changing events.
The Petro government has formally ended gasoline subsidies paid through the national budget, while simultaneously defending an ongoing cycle of pump price reductions now complicated by a sharp spike in international crude prices driven by Middle East conflict.
Latin American refineries are adapting existing infrastructure to produce renewable fuels rather than constructing new facilities, with Colombia positioning itself to enter the emerging biofuels market through pilot programs and planned capacity expansion in Barrancabermeja.
Colombia stands to gain financially from rising oil prices driven by the Middle East conflict, as higher crude values would positively impact public finances through increased revenue from state oil company Ecopetrol.
The Ministry of Mines and Energy initiated an administrative sanction procedure against Ecopetrol for alleged non-compliance with the diesel supply plan for Nariño department, warning the situation could jeopardize fuel supply and result in sanctions against the company.
The Colombian government ordered the refund of over CoP$150B to natural gas users for overcharges in the transport component of tariffs. Gas transporters TGI, Promigas, and three other companies immediately rejected the order, denying any improper charges and threatening legal action.
Colombia’s biofuels sector confronts sharply divergent narratives between government policy and industry survival, as President Gustavo Petro defends forced investment reforms while the sugarcane sector warns of imminent operational collapse from excessive imports threatening hundreds of thousands of jobs.
DIAN notified Ecopetrol of Resolution 000571 confirming a CoP$5.3T sanction (including interest and penalties) related to 19% VAT on gasoline imports between 2022-2024, escalating the ongoing legal dispute between Colombia’s tax authority and the state oil company.
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