gasoline_f_bancadenegociosThe Colombian Ministry of Mines and Energy on Tuesday announced that gasoline and diesel prices for May are at the second lowest level in the past 17 months.

The price for gasoline in Bogota this May was set at $4.72 per gallon, marking a reduction of $0.08 on the previous month.

Diesel in Colombia’s capital experienced a $0.07 per gallon decrease compared to April, with this months price set at $4.45 per gallon in May.

In March Colombia’s trucking association (ACC) went on strike for four days until the government agreed to lower the price of gasoline by $0.087 cents per gallon.

In Colombia the Ministry of Mines and Energy have the power to manipulate fuel prices.  However in April a lawsuit was filed with the Constitutional Court against the government’s right to artificially fix fuel prices.

Source: Colombia Reports