LatinNews Daily - 3 September 2024

*Truck drivers have blocked several highways around Colombia in protest at a cut to diesel subsidies which came into force yesterday. Areas impacted by the roadblocks included the capital Bogotá, the neighbouring department of Cundinamarca, Caldas department, and the highway connecting the city of Bucaramanga (Santander department) with the Caribbean coast. The price of diesel, which varies slightly between cities, was increased by Col$1,904 (US$0.45) per gallon, raising the average price to Col$11,360 per gallon. The transport ministry said that this would result in savings of Col$1.6trn in the remainder of 2024. Finance Minister Ricardo Bonilla emphasised on 30 August that the diesel subsidy had not been adjusted since January 2020, which he said had cost the government some Col$56trn. Bonilla said that these funds could have been better spent on targeted support for poor Colombians or on infrastructure projects.