Colombia halts gasoline price hike despite rising crude; fiscal strain likely

Colombian President Abelardo de la Espriella ordered the Ministry of Mines to reverse the 46-peso-per-gallon gasoline adjustment for October, citing international crude pressures. The move signals a policy shift toward shielding consumers from global energy costs, but it may widen the fiscal deficit and strain state oil company finances. The decision is unilateral and its sustainability is uncertain given rising crude prices.