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There is set to be a fall in gas prices in Colombia as the government looks to implement new price controls, Caracol Radio reported Monday.
Energy Minister Carlos Rodado announced, “at the end of this month we could reduce the price of gas a little, but we are going to put a ceiling on price increases and a floor on price reductions.”
Rodado, speaking ahead of a meeting to discuss the plans with Finance Minister Juan Carlos Echeverry on Monday, said the controls would probably restrict prices to a 2% change in either direction.
The minister said any decision would be based on a study of international gas prices from the last six months, which have generally been declining.
