[codeigniter] The resize function doesn't work properly

I have a form with a file field to upload an image, this image must be resized to fit a space on a page.

The upload works correctly, but the resize does't.

Here is how I do the resize

$config['image_library']    = 'gd2';
$config['source_image']     = '.'.$this->config->item('upload_image_base').'/'.'logo_'.$id.'.jpg';
$config['height']           = $this->config->item('logo_height'); //this is 80
$config['width']            = $this->config->item('max_logo_width'); //this is 300
$config['maintain_ratio']   = TRUE;
$config['master_dim']       = 'height';
                
$this->load->library('image_lib', $config);
                
$this->image_lib->resize();

The source image is



This is how CodeIgniter resizes it



As you can see it is not correctly resized, what is the problem? How to solve it?