Colombia pump prices adjust based on ethanol and biodiesel shifts

In Colombia, the regulated price of diesel has fallen by 3.5 cents per gallon thanks to adjustments in the price of biodiesel, while gasoline has inched up slight by less than a cent due to the adjusted price for ethanol. Prices had been frozen since May but the new prices are effective the end of July. Fuel prices are regulated based on a formula that is meant to ensure stability and efficiency throughout the country.