Thousands of protesters on cars and motorbikes took to the streets of Colombia’s main cities on Monday to reject recent hikes in gasoline prices that have drastically increased the price of fuel in the South American country.
Protesters say that the monthly price hikes set by Colombia’s first leftist government are making it harder for small businesses to operate, and could push up the price of food.
But the government of President Gustavo Petro says the gasoline subsidies cost about $11 billion a year. It says it must eliminate the subsidies to pay debts to the national oil company Ecopetrol, which produces most of the country’s fuel, and to free up more funds for social programs.
The protest comes as discontent grows with Petro’s administration a year after he took office promising to reduce poverty and make peace with the nation’s remaining rebel groups.
Petro’s administration has struggled to stop violence in rural parts of the country, and to boost Colombia’s economy, which is expected to grow by just 1% in 2023, according to the International Monetary Fund.
The price of gasoline in Colombia has risen from 9,000 pesos a gallon in August of last year (US $2.50) to more than 14,000 currently ($3.40) as Colombia’s government cuts back on subsidies each month.
( Source AP)
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