News and AnalysIs for

Half of 2024 is now over. In most companies, while work continues on executing the 2024 plan, attention turns to planning 2025, setting budgets and targets. The critical external variable is the price of oil. We collect and analyse statistics on Brent which we offer here with commentary to help with the process.

Alfonso Medrano, President of the Intergremial Chamber of Cargo Transporters, confirmed that discussions regarding a potential increase in diesel tariffs will resume.

In a recent address at the Andesco Congress, Colombia’s Minister of Finance and Public Credit, Ricardo Bonilla, detailed the government’s plan to settle the debt owed to Ecopetrol for the deficit in the Fuel Price Stabilization Fund (FEPC).

The average global price of gasoline has reached US$4.94 per gallon, but prices vary significantly across Latin America due to a range of factors, primarily taxes and subsidies.

Colombia’s Minister of Finance (MinHacienda), Ricardo Bonilla, officially signed a decree to raise the price of diesel for large consumers.

Colombia’s Minister of Mines and Energy (MinEnergia), Omar Andrés Camacho, provided details about the upcoming increases in fuel prices, focusing particularly on diesel.

Colombia’s Minister of Finance (MinHacienda), Ricardo Bonilla, announced an increase in diesel prices for large consumers.

Mauricio Palma, the Deputy Director of Hydrocarbons at the Unit of Mining and Energy Planning (UPME), announced a that the Colombian government is determined to proceed with a new call for proposals to build the Pacific regasification plant.

Renewable diesel is a second-generation biofuel developed in response to the growing demand for liquid fuel and the anticipated decrease in the availability of fossil fuels, especially diesel, as the primary liquid fuel used in transportation vehicles.

The Colombian Government under President Petro proposes hiking diesel prices to save billions, citing fiscal commitments and deficits in the Fuel Price Stabilization Fund (FEPC).