LatinNews Daily - 9 September 2024

*Colombia’s government has reached an agreement with truck drivers to end four days of protests against a cut to diesel subsidies. Truck drivers had blocked highways around the country to demand the reversal of the subsidy cut. President Gustavo Petro’s government made significant concessions to end the protests, which had sparked fears of widespread fuel shortages. The transport ministry announced on 6 September that the price of a gallon of diesel, which was originally going to rise by Col$1,904 (US$0.45), will instead rise by just Col$800. The subsidy will be reduced in two phases, with the price of diesel to rise by Col$400/gallon now and by a further Col$400 from 1 December. The government committed to not making any further increases to the price of diesel “until structural changes are made in the economic relations of the transport sector” that address the concerns of drivers.