Colombia President Petro Maintains Diesel Subsidies - Bloomberg
Colombia President Petro Maintains Diesel Subsidies - Bloomberg
Colombia President Gustavo Petro Vows to Keep Diesel Subsidies in Place
- Petro says gasoline will fluctuate with international prices
- In year-end speech, president said inflation is under control
Workers fill fuel tanks at a gas station in Cali, Colombia. Photographer: Jair F. Coll/Bloomberg
Colombia President Gustavo Petro said his government will keep diesel subsidies in place going into the new year while allowing local gasoline costs to fluctuate in line with international prices.
“There will be no harm to truckers and public transportation as long as we will maintain the subsidies,” Petro said in a year-end speech late on Saturday. “But we will promote a policy of transforming energy to cleaner sources.”
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Colombia President Gustavo Petro Vows to Keep Diesel Subsidies in Place
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.