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Colombia has once again underscored its global leadership in biodiesel production and consumption, reaching a historic milestone in 2023.

The Ministry of Mines and Energy (MinEnergia) announced a new increase in fuel prices in the last days of February. Here are the details.

According to the latest report by the Colombian Association of Petroleum and Gas (ACP), titled “Liquid Fuels in Colombia: Evolution 2023 and Perspectives 2024-2033,” the country will have an increase in its fuel tax collection.

The Colombian government’s decision not to increase diesel prices has resulted in significant fiscal costs to cover the subsidy.

Campetrol, with information of the Ministry of Mines and Energy (MinEnergia), published data on fuel demand in December 2023.

In response to the ongoing wildfires that have ravaged parts of Colombia for four consecutive days, Minister of Mines and Energy (MinMinas) Andrés Camacho, through a statement on X, authorized Terpel to provide diesel, to firetrucks stationed atop hills and to motor pumps strategically positioned across fire-affected areas.

In October 2022, the Colombian government initiated a phased increase in gasoline prices, citing the need to address the deficit that had accumulated in the Fuel Price Stabilization Fund (FEPC), but this tendency seems to end.

Terpel, the second-largest revenue-generating company in Colombia after Ecopetrol, has unveiled its strategic plans for 2024, encompassing significant expansions and green initiatives.

The Ministry of Mines and Energy (MinEnergia) announced fuel prices for the first month of 2024. Here are the details.

In the ever-evolving landscape of global fuel prices, the average cost of gasoline worldwide (95 octane) stands at approximately US$1.30 per liter in 2024.