Although most investors and financial analysts in the world have already considered the scenario of a significant rise in the Federal Reserve interest rate of the United States (fed)Which announced this Wednesday an increase of 0.75 basis points to confront record inflation, the effects of the measure will continue in the markets.
In this regard, Theodore Kahn, chief international economist at Control Risks, noted that there were more “disturbing” signs that prompted the Federal Reserve to make this decision.
(You may be interested in: The Dollar at $7000? The Expected Effects If They Stop Oil Drilling)
Khan noted that “prices are rising not only in categories such as food and energy, which are most affected by the external situation, but also in more general categories, which also affects various services.”
In Colombia, according to Kahn, the dollar can raise its price, although part of this effect is also caused by the electoral issue. He also sees that this will have higher financing costs for the country, since due to higher profitability in the US, not only will the dollar be put under pressure, but interest rates on instruments such as bonds and foreign securities being issued will tend to be higher.
(Read also: Pre-sale day without VAT: which stores offer it and how it works)
In turn, Carolina Monzon, director of economic research at Itau Colombia, notes that an acceleration in interest rate hikes achieved by the Bank of the Republic can be observed.
What will be the effect of higher gasoline?
Meanwhile, the government indicated that the gradual increase in the price of gasoline scheduled since June, after a long period of support to contain the effects of higher oil and fuel on people’s pockets and on inflation, will have some impact on the cost of living for consumers.
But this will be known once the monthly adjustments are determined. However, some analysts point out that these increases undoubtedly affected cargo carriers and passengers directly and immediately, a cost that will be gradually transferred to the prices of basic products, food and transportation.
“The monthly increase in the price of fuel will affect the costs of operations of freight carriers, as fuel represents 40 percent of the cost basket of our sector,” says Nidia Hernandez, CEO of Colfecar.
In applying the gasoline price equation, the plotter envisions that when oil prices fall across the world, gasoline prices in the country do not fall to the same degree in order to feed the Price Stabilization Fund (Fepc), which is used when there are steady increases in crude oil prices to mitigate the effect on consumers.
However, after the epidemic, when prices fell by more than 1,000 pesos per gallon, the increase in crude oil was very high and that is why last year the government decided not to apply the formula to avoid increasing pressure on inflation, because the price of oil reached 120 dollars, but it is important now Reducing financial stress.
And what about the show?
According to Ecopetrol data, with the entry into the expansion of the Cartagena refinery, which is taking place these weeks, in terms of diesel supplies, the country will be self-sufficient, while in gasoline currently, about 30 percent of consumption is imported, and today it ranges between 140,000 and 150,000 barrels in today.
According to Julio César Vera, president and president of XUA Energy, and an expert on hydrocarbon issues, prices in the United States today are $5 per gallon for gasoline and $5.7 per gallon for diesel, of which about 76 percent. Corresponds to the price at the refinery.
In addition, the expert recalls that virtually everything that is imported is paid at the import parity price as such, but Ecopetrol is recognized only as export parity, which means that there is still implicit support in this segment.
But it also points out that the price hike so far below the international price or the market price generates the effect of growth in demand, in which not energy efficiency, but inefficiency due to prices, does not predominate, not counting the possible phenomena of smuggling extraction to other countries.
* With wallet information