Gasoline price in Colombia rises $375 per gallon

From April 1, 2026, gasoline prices in Colombia rose by $375 per gallon, lifting the national average to $15,449. In Cali, prices are around $15,900, with diesel up $81 per gallon. The increase reverses prior cuts timed with legislative elections, prompting political debate.

The Ministry of Mines and Energy announced the fuel price hike effective April 1, 2026. Regular gasoline reached a national average of $15,449 per gallon, up $375 from the previous period. In cities like Cali, the price stands around $15,900 per gallon, impacting transportation costs and daily life.

Diesel, or ACPM, saw an average increase of $81 per gallon, adding strain to cargo and passenger transport sectors. This follows two consecutive gasoline price cuts earlier in 2026, which aligned with the legislative elections period.

Political sectors and social media users have questioned those prior reductions, implying a strategic motive now undone by the new rise. Authorities cite factors including the international crude oil price exceeding $100 per barrel amid global tensions, plus production, transport, distribution, and tax costs.

The Fuel Price Stabilization Fund faces pressures from these international fluctuations, aiming to cushion their effect on the local market.

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Realistic depiction of Colombia's second $500 gasoline price cut, showing joyful locals refueling at a Bogotá gas station with updated lower prices on display.
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Colombia enacts second $500 gasoline price cut from March 1 after ministerial confirmation

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Mines and Energy Minister Edwin Palma signed a resolution for a $500 per gallon gasoline price reduction effective March 1, 2026—the second consecutive cut following February's drop—bringing the average price in Colombia's 13 main cities to $15,057. The move, confirmed days earlier by Finance Minister Germán Ávila, aims to ease economic pressures amid Fuel Prices Stabilization Fund (Fepc) improvements.

Finance Minister Germán Ávila announced a $400 increase in gasoline prices starting May 1. The move reverses prior cuts from January and February amid international pressures and high oil prices. The national average price will reach $15.749 per gallon.

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International gasoline prices have surged 74.7% since US and Israel attacks on Iran began on February 28, pushing Brent crude over $100 per barrel amid Strait of Hormuz risks. Colombia, after early-year dips, implemented a price hike on April 1, with experts warning of further adjustments amid global tensions.

Gasoline and diesel prices rose moderately in South Korea on Sunday as the government considers adopting a price cap system amid concerns over rising energy prices due to the escalating Middle East conflict. According to the Korea National Oil Corp., the nationwide average gasoline price reached 1,893.3 won ($1.27) per liter, up 3.9 won from the previous day, while diesel increased 4.8 won to 1,915.4 won per liter.

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Updated industry estimates project even larger diesel cuts of P24 to P26 per liter and gasoline P2.50 to P3.50 per liter starting April 21, up from earlier P17-P19 projections, as the global oil war premium continues to unwind—extending relief from the April 14 rollbacks amid the 2026 fuel crisis.

Fuel prices will increase again on Tuesday, May 5, with diesel rising by P2.66 per liter and gasoline by P2.21 per liter, Energy Secretary Sharon Garin said. Kerosene prices will decline by P3.53 per liter.

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The escalation of the Iran war is driving up oil prices and causing noticeable increases at German gas stations. Diesel now costs an average of 2.04 euros per liter, gasoline 1.94 euros. Politicians are calling for government interventions against rising fuel costs.

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