Oil prices began to show signs of recovery a year ago, generating high expectations for their behavior during 2019. Political and economic issues, however, have affected this metric.
Colombia’s current ethanol production is insufficient to cover national demand. Imports are increasing considerably, generating concerns in the sector.
Fuel prices have been one of the main topics of discussion between the Colombian government and the transport sector in Colombia. Fedispetrol talked about this issue and a possible decrease in these.
Local authorities denounced that the department of La Guajira is suffering a serious situation due to lack of gasoline. They asked for measures to solve this problem.
The government’s decision of reducing the biodiesel mix, from 12% to 2%, left 11 sugar cane processing facilities out of the market.
The Ministry of Mines and Energy (MinEnergia) announced fuel prices for October 2019, reporting no changes in regular fuel and a small decrease for diesel.
The National Federation of Fuel and Energy Distributors (Fendipeleo) spoke about Colombia’s de-carbonization plan.
The conflict in the Middle East increased oil prices, creating high expectations about possible economic benefits for Colombia. This is why the country has not seen any benefits yet.
A couple of weeks ago we wrote about oil prices concluding that “Your CFO is unhappy because prices are low and appear to be falling.” CFOs were no doubt happy in 2Q19 because netbacks (on average) were up.
The Ministry of Mines and Energy (MinEnergia) announced fuel prices for August 2019, highlighting the performance of this metric during this year. However, these remain high compared to figures of last year.
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