Colombian government reaches deal with truckers to suspend road blockades

Colombia's government on Friday reached a deal with truckers to suspend a protest over a rise in diesel prices, where road blockades threatened to cause food and fuel shortages in the country's biggest cities.

The deal came after the government backed down from its plan to increase the price of diesel by 1,904 pesos (45 cents) per gallon starting this month, instead agreeing to a rise of just 800 pesos in two equal increments during the rest of the year.

“After several days of dialogue, the government has signed a commitment with the transport bases to lift the strike,” the transport ministry said in a post on X.

Previously, diesel prices had been held at an average 9,065 pesos ($2.16) per gallon for almost five years, amid government subsidies that Finance Minister Ricardo Bonilla said cost some 12 trillion pesos ($2.87 billion) per year.

Such high costs mean the price of diesel needs to be brought more in line with international prices, to free up resources for spending on social initiatives, according to the government.

Reuters