NGV represents a respite for Colombians’ pockets in the face of the rise in gasoline

It is a viable and attractive solution for those seeking to save money on transportation, reduce their environmental impact and contribute to more sustainable development.

May 29, 2024. In Colombia, the price of gasoline has not stopped rising in recent months, hitting citizens’ pockets hard. The constant increase has led many to look for cheaper alternatives to get around, and in this scenario, natural gas for vehicles (NGV) has become an increasingly attractive option.

The figures say it all: NGV represents savings of up to 50% compared to gasoline. In practical terms, this means that for every gallon of gasoline a driver pays, they would only spend half as much with natural gas.

Although converting a vehicle has an initial cost, this is quickly paid for by savings in fuel prices. According to sector experts, the investment is recovered in an average period of between 6 and 12 months, depending on the use given to the unit.

Beyond economic savings, NGV offers important benefits for the environment and quality of life. Compared to gasoline, it produces up to 90% less particulate matter; generates up to 30% less CO2 emissions; it is up to 20% more efficient, which translates into better fuel performance and lower consumption; in addition to being quieter.

According to the Colombian Natural Gas Association (Naturgas), the adoption of NGV has experienced significant growth during the last year in the country. In fact, the conversion increased 62.66% the previous year, going from 14,372 in 2022 to 23,378 in 2023; while, in the first quarter of 2024, it increased by 136% compared to the same period of the previous year, going from 3,217 conversions in 2023 to 7,587 in 2024.

Bogotá, Bucaramanga, Medellín, Cali and Villavicencio have been the cities with the most vehicles converted during the quarter. For their part, in Cartago, Girardot, Manizales, Ibagué and Yopal, conversions have been reactivated with a number of vehicles converted between 8 and 12 times greater than the same period in 2023.

Faced with the entry of new vehicles, the country has more than 4,500 units dedicated to natural gas, of which more than 1,450 are cargo trucks and about 3,000 are in the public passenger transportation segment.

Some benefits for natural gas users in Colombia include tax exemptions, since vehicles that run on this fuel are exempt from some taxes, such as VAT and rolling tax. Additionally, some companies offer subsidies for the installation of conversion kits. Likewise, the number of filling stations has also increased significantly in recent years, making access to this alternative even easier.

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