2024-02-14 20:03:45
The Colombian Oil and Gas Association, ACP, presented a report on the investments made by companies in the liquid fuels sector and how it impacted the increase in gasoline in 2023.
The guild He explained that the Government increased gasoline 48% last year and this caused people to use this fuel less.
The general analysis shows that among all petroleum derivatives there was a moderate growth of 0.3% in consumption “reaching 345,000 barrels per day (KBD)”, but showed a drop in gasoline consumption of 2.5%.
Diesel, for its part, which only had a slight increase of $55 in price, increased consumption by 3%. Now, private consumption had little to do with this, and ACP’s vice president of strategy and regulatory affairs, Andrés Bitar, He highlighted that this occurred because the country was preparing for the arrival of the El Niño phenomenon, so “the thermals had to be turned on and that is why there was a significant increase in the use of diesel.”
In the case of jet fuel it also had an increase of 2%, which is due to the reactivation of the air transport sector; The union added that this is expected to continue rising in the coming years.
Tax contributions
The ACP aims that in 2024 reliability in the supply of liquid fuels is increased and guarantee energy security. Furthermore, it foresees that the Government receive $9 billion as taxes that should go to the regions to contribute to the development of infrastructure.
The union reported that last year $8.5 billion in tax contributions were produced; $4.7 billion received by the Governmentwhile $3.8 billion were allocated to departments and municipalities.
Furthermore, Bitar, reported that it expects $3.3 billion to be invested this year with the intention of continuing with this essential service.
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Estimates for the decade
The ACP hopes that in the following years there will be an annual growth in demand for liquid fuels of 1.8%.
In that sense, they expect gasoline to increase 1.5%, diesel 1.7% and jet 3%; in this way it is pmight project sustainable economic growth from 2024 and greater adoption of low and zero emissions technologies. For this reason, the ACP recommends guaranteeing the service.
$2.9 billion were invested in fuels
Companies invested last year $2.9 billion in liquid fuel chain agents to guarantee, “a sustainable and efficient service throughout the country“said the Colombian Oil and Gas Association, ACP, in the presentation of its annual report and outlook for 2024.
Its president, Frank Pearl, stressed that fuels “are here to stay, since they are necessary to guarantee energy security.” Also, during the presentation, It was considered to encourage the increase of the biofuel mixture, that is, gasoline with ethanol, to generate energy transition.
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