Toll prices in Colombia are expected to increase starting in 2024. The Ministry of Transportation has released a draft decree detailing the planned increases for the upcoming year, revealing an adjustment in two stages during the year.
As announced by Minister William Camargo, it is expected that toll prices in Colombia will undergo an initial increase in January 2024, reflecting the rise in the Consumer Price Index (CPI) for the year 2022. Subsequently, another adjustment is projected in the third quarter of the same year, considering the CPI for the year 2023.
The announcement comes after the Government froze toll prices during the current year of 2023, a measure aimed at cushioning the impact of inflation in the country, which stood at 13.12% earlier this year. If the increase had been applied at that time, tolls would have increased by the same proportion.
“We are doing the calculations, and as proposed with the Treasury, we will have a first update in January corresponding to the IPC of 2022, while the adjustment due to the IPC of 2023 will come in the first or third quarter of the year,” Camargo stated.
Increases from 2024
According to the minister’s statements, it is expected that the first increase in January will be around 13.12%, reflecting the CPI of the year 2022. Meanwhile, the second adjustment will be subject to the CPI of the year 2023, estimated by analysts to be within a range of 9% to 10%.
This announcement generates apprehension among drivers and road users in the country since tolls represent a significant element in the costs associated with mobility and transportation. Authorities have highlighted the need for these adjustments to maintain the operability and proper maintenance of the road infrastructure, despite the economic and financial challenges that may arise.
The scheduled increase in tolls for the year 2024 is presented as a key measure to ensure the development and proper conservation of the national road network, although it involves a direct impact on costs for users. However, it is expected that these actions will contribute to the maintenance and improvement of road conditions in the country, promoting greater safety and quality in road infrastructure.