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Thursday, 22 October 2026

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Predicted increases in diesel and gasoline prices; government boosts ISP discount

Diesel prices are expected to rise by 15 cents, while gasoline may increase by 12 cents. The government announced an additional ISP discount to ease these increases.

Archive photo: Predicted increases in diesel and gasoline prices; government boosts ISP discount
Archive photoPhoto: Calle Eklund/ V-wolf · Wikimedia Commons · CC BY 3.0

Diesel prices are set to increase by 15 cents next week, according to the National Association of Fuel Dealers. Gasoline is expected to see a similar rise, with an anticipated increase of 12 cents per liter.

According to the Association's estimates, the increases already account for a three-cent discount on the Tax on Oil Products (ISP) that the government will apply to mitigate the impact on consumers.

The government announced that it will enhance the ISP discount by increasing it by three cents per liter for both diesel and gasoline. This measure aims to cushion the impact of rising fuel prices, which will take effect next week.

Archive photo: Predicted increases in diesel and gasoline prices; government boosts ISP discount
Archive photoPhoto: Reg Natarajan from Vancouver, Bogotá · Wikimedia Commons · CC BY 2.0

Thus, the total discounts applied by the government will reach 23 cents per liter, with the goal of protecting consumers from a sharp increase in fuel prices.

Significant increases in fuel prices have been an ongoing concern, prompting the government to take mitigation measures by reducing the tax imposed on these products.

Decisions regarding adjustments to the ISP reflect the government's intention to balance costs for citizens and ensure that the rise in fuel prices does not have an unreasonable impact on household budgets.