The Colombian Government will freeze prices for gasoline and other petrofuels through March, the government announced Tuesday.
The freeze takes effect Thursday and sets prices at December levels, the Minister of Mines and Energy said Monday.
The measure will be funded through a $170 million Fund for the
Stabilization of Prices for Combustibles, which goes into effect
January 1, a release on the Colombian President’s website says.
“All this is being done to give consumers a clear signal of stability,”
Minister of Mines and Energy Hernan Martinez Torres is quoted as saying
in El País newspaper.
Gas prices also will not decrease, although there has been a significant drop in crude oil prices in the past few months, Martinez said.
The price freeze pertains to gasoline, biogasoline (oxygenated
gasoline), a product called ACPM (combustible oil for motors), and the
mix of ACPM and biodiesel.
For the time being,
El Pais said, only propane will see a decrease in price, with the price
going down 25 percent. It’s the second price drop for propane, which
decreased 10 percent in November.