In a recent press conference, Minister of Finance, Ricardo Bonilla, announced that the price of diesel fuel will not be adjusted during the ongoing election campaign until gasoline prices have been stabilized.
Colombia’s recent investigation into a transnational oil smuggling network has implicated 17 individuals.
A report by Corficolombiana analyzes the current state of carbon markets in Colombia and the world.
We used to joke about the Colombian government’s “Magic Formula” which it supposedly used to set gasoline and diesel prices. Events of the past few years have proven that, if there ever was a “magic formula”, governments abandoned it in the pandemic. Politicians set prices using political criteria (what a surprise!) and economics or finance play a limited role. Now the Petro government sends signals that it plans a radical restructuring of fuel pricing and we think it shows it / his thinking about the broader energy sector.
Colombia’s oil production will face significant challenges in the coming years, according to the latest analysis and projections by the International Energy Agency (IEA).
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