It’s Friday, but don’t celebrate: the price of gasoline and diesel went up

The average price of gasoline, considering the 13 main cities, will have a value of $ 8,871 per gallon

The Ministry of Mines and Energy reported that as of this Saturday, December 4, gasoline and diesel prices will rise.

As explained by that entity, the average price of gasoline, considering the 13 main cities, will be worth $ 8,871 per gallon, while the average price of diesel will be $ 8,718 per gallon.

In that sense, the Gasoline price will have an adjustment, on average, of $ 200 per gallon and diesel, on average, $ 180 per gallon.

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The Minister of Mines mentioned that the variations are consistent with increases in international price indicators of these fuels and crude oil, observed in recent months.

He also said that in particular, during the last two months the international price of gasoline increased 8% compared to the average value registered in September, while the international price of diesel presented an increase of 12% compared to September.

In this same period of time the reference price of Brent registered an increase of 11%.

He also highlighted that during 2021 the prices of gasoline and diesel they registered stability for seven months: April, May, June, July, August, October and November.

“This stability in prices was possible thanks to the operation of the Fuel Price Stabilization Fund (FEPC), which mitigates the impact of high fluctuations in the prices of regular gasoline and diesel in the domestic market in international markets ”, said that entity.

They mentioned from the Ministry that “if this mechanism did not exist, consumers of ordinary gasoline and diesel engines would have paid about $ 3,600 more during November for every gallon of gasoline and about $ 4,600 more for every gallon of diesel ”.

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In the same way, they stated that “to meet the national demand for fuels in recent months and due to the volatility in the prices of refined products on the Gulf Coast of the United States, the FEPC has had to stabilize the national market prices in an amount close to $ 1 trillion per month, which is assumed by the Nation ”.

Finally, the Ministry of Mines said that “the sale prices of gasoline and diesel in Colombia are cheaper than most countries in the region, with the exception of Bolivia and Ecuador ”.