Journalist for EL COLOMBIANO.
Starting this Thursday, August 1, 2024, toll rates across the country will rise by 4.64%.
This announcement was made by the National Infrastructure Agency and Invías in a draft resolution released by the Ministry of Transport on Monday, which is currently open for public comment.
Read also: The outgoing Minister of Transport stated that the pending toll increase must be negotiated with transporters.
This adjustment is part of the government’s strategy to recover losses incurred since toll prices were frozen in January 2023, a measure implemented to combat high inflation at that time.
The freeze led to a shortfall in toll revenue, impacting both state and private finances. Therefore, on January 15, 2024, the Ministry of Transport enacted an initial increase of 13.12%, reflecting the inflation rate of 2022.
Now, according to the new document, which will be available for comments between July 29 and 31, the 4.64% increase corresponds to half of the inflation rate for 2023, which was reported at 9.28% by Dane.
Also: The Minister of Transport might raise gasoline prices to offset unpaid tolls in Colombia.
The draft resolution indicates the necessity to continue progressively adjusting toll rates to restore the tariff system to normal.
The remaining 50% of the adjustment will be applied before December 31, 2024, which is the deadline established by the government for normalizing rates.
It is worth noting that the Colombian Chamber of Infrastructure warned this year that failing to adjust toll rates in line with the 2023 CPI would create a fiscal gap of $10.8 trillion.
Discover: These are the 10 most expensive tolls imposed by the ANI: one from Antioquia tops the list.
This gap could occur between 2024 and 2040. Even though the indexation of the country’s toll rates took effect on January 16, using the 13.12% CPI of 2022 as a reference, this was the first step toward progressively normalizing the effects stemming from decree 050, which froze toll rates last year. However, the government is still awaiting a new adjustment based on the 2023 CPI.
You may be interested in: The CCI warns that not adjusting toll rates with the 2023 CPI would lead to a fiscal gap of $10.8 billion.
Journalist for EL COLOMBIANO.
Starting this Thursday, August 1, 2024, Toll rates in the country will increase by 4.64%.
This was announced by the National Infrastructure Agency and Invías in a draft resolution published by the Ministry of Transport on Monday, which is currently open to public comment.
Read also: Outgoing MinTransporte said that pending toll increases must be negotiated with transporters.
This adjustment is part of the Government’s plan to recover what was lost since prices were frozen in January 2023. This measure was taken to address the high inflation at that time.
The freeze generated a deficit in toll collection, adversely affecting both state and private finances. Consequently, On January 15, 2024, the Ministry of Transport implemented a first increase of 13.12%, which corresponded to the inflation of 2022.
Now, according to the new document, which will be open for comments between July 29 and 31, The 4.64% increase corresponds to half of the inflation in 2023, which was 9.28%, according to Dane.
Also: MinTransporte could increase the price of gasoline to cover unpaid tolls in Colombia.
The draft resolution emphasizes the necessity to continue with a progressive adjustment of toll rates in order to normalize the tariff scheme.
The remaining 50% of the adjustment will be applied before December 31, 2024, as mandated by the Government to achieve rate normalization.
It should be noted that the Colombian Chamber of Infrastructure warned this year that failing to adjust toll rates with the 2023 CPI would open a fiscal gap of $10.8 trillion.
Find out: These are the 10 most expensive tolls charged by the ANI: one from Antioquia leads the list.
This expected gap would arise between the years 2024 and 2040. Although the indexation of the country’s toll rates came into effect on January 16, taking as a reference the 13.12% CPI of 2022, this was only the first step towards progressively normalizing the effects derived from decree 050, which froze toll booth rates last year. The Government is still awaiting a new adjustment to the 2023 CPI.
You may be interested in: The CCI warns that not adjusting toll rates with the 2023 CPI would open a fiscal gap of $10.8 billion.
Toll Rate Adjustment Timeline
| Date | Action | Percentage Increase |
|---|---|---|
| January 2023 | Freezing of rates | N/A |
| January 15, 2024 | First increase implemented | 13.12% |
| August 1, 2024 | Second increase to be implemented | 4.64% |
| December 31, 2024 | Final adjustment expected | Remaining 50% |
Factors Influencing Toll Rate Adjustments
- Inflation Rates: The toll hikes are directly influenced by the Consumer Price Index (CPI) determined by Dane, which reflects the cost of living and inflation in the country.
- Operational Costs: Rising costs of infrastructure maintenance and operations for state and private road developers necessitate regular toll adjustments.
- Public Finances: The government aims to recover deficits caused by previous rate freezes to ensure sustainable public financing.
Impacts of Adjusted Toll Rates on Transportation
The adjustments in toll rates are expected to have significant impacts on transportation companies and commuters alike:
- Increased Operational Costs: Transport companies may raise fares to offset the increased toll costs, impacting logistic operations.
- Influence on Traffic Patterns: Higher tolls could lead to the redistribution of traffic as some drivers may opt for alternative routes or transportation methods.
- Improved Infrastructure: The anticipated revenue from toll increases is likely to be reinvested into road and infrastructure maintenance, ultimately benefiting commuters with safer travel experiences.
Conclusion on Current Toll Adjustments
As Colombia prepares for this new increase in toll rates, the broader implications on the economy, transport sector, and daily commuters present significant considerations. The government’s focus on restoring balance in toll rates through progressive adjustments highlights a critical response to inflation pressures and operational demands within the infrastructure sector. Stakeholders, including the Colombian Chamber of Infrastructure and transport companies, continue to advocate for systematic and transparent adjustments to ensure fiscal sustainability.