Colombia faces rising fuel and public transport costs

The price of vehicle natural gas (GNV) in Colombia has increased by 19%, rising from 4,200 to 5,000 pesos per cubic meter. According to former Minister of Mines and Energy Amylkar Acosta, the surge is driven by high costs for imported gas and global supply crises linked to the conflict in the Middle East. Since December 2024, imports have accounted for over 40% of national demand to meet essential needs.

Geopolitical tensions have impacted gas transport and commercialization, specifically affecting the Strait of Hormuz and damaging production and liquefaction facilities in Qatar, the world's largest gas producer. Global prices per million BTU have risen from approximately US$13 in February to between US$28 and US$30.

In Bogotá, the local administration is also evaluating potential fare increases for the TransMilenio and SITP public transport systems for 2027. Mayor Carlos Fernando Galán is studying four scenarios, with projected fares potentially ranging between 3,800 and 3,950 pesos. The decision involves balancing technical costs—such as fuel, maintenance, and salaries—with public subsidies and the Fondo de Estabilización Tarifaria to ensure system sustainability.