Latin American fuel markets see price shifts in Colombia, Mexico, and Argentina

Fuel markets across Latin America are experiencing various shifts in pricing and regulation. In Colombia, President Abelardo De La Espriella ordered the reversal of a planned gasoline price increase of $46 per gallon. The adjustment, originally intended to support ethanol producers in the Valle del Cauca region following an earthquake, was canceled to protect consumers from international oil market volatility.

In Mexico, the National Energy Commission (CNE) has set maximum prices for LP gas for the period of October 11 to 17, 2026. Prices remain stable in regions such as Puebla and Veracruz, with maximum rates for LP gas varying by municipality. Additionally, Profeco reported that diesel prices remain largely stable, with a national average of $26.99 per liter, though some isolated cases of overpricing were noted. Meanwhile, discussions in the Chamber of Deputies regarding fiscal stimulus cuts for transport companies could potentially increase logistics costs.

In Argentina, gasoline prices have seen a cumulative increase of 23% in dollar terms during the first ten months of 2026. This rise is attributed to international market instability, tax updates, and fluctuations in the exchange rate, placing Argentina in a mid-range position regarding fuel costs within the Latin American region.