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Infographic: How Expensive Is Gasoline In Latin America?

The president of the Colombian Government, Gustavo Petro, warns that there is a deficit of 10 billion pesos and that he will have to dismantle the gasoline subsidy .

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Photo: Latin American Post

LatinAmerican Post | Santiago Gómez Hernández

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Oil prices continue to rise. The war in Ukraine does and the price of different fuels is rising. Europe itself fears a winter without Russian gas that will leave them without heating (so necessary for that time of year). The problem for many countries is that with the already high inflation, if the price of gasoline increases, the prices of everything will also increase. 

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For example, in Colombia, President Gustavo Petro admits that there is a deficit created by the gasoline subsidy. This tax gap amounts to 2,250 million dollars. In an interview for the newspaper El Tiempo, Juan Carlos Vélez Uribe, president of the Colombian Federation of distributors of petroleum derivatives, Fendipetróleo, estimates that without this subsidy, gasoline in Colombia will cost 2.70 dollars per gallon or 0.8 per liter. With this change, how is the price of gasoline in Latin America? This is the data from Global Petrol Prices .

Gasoline In Latin America

The world average is 1.33 US dollars per liter, which indicates that several Latin American countries have internal production and even subsidies. According to Global Petrol Prices, the countries where the most expensive liter of gasoline is purchased are Norway (USD 2,189), Iceland (USD 2,304), Central African Republic (USD 2,318), Zimbabwe (USD 2,677), and Hong Kong (USD 2,967).