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March 17, 2022
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Venezuela: The difference between paying for subsidized gasoline or buying it in dollars

Venezuela: The difference between paying for subsidized gasoline or buying it in dollars

At least some 540 service stations are selling gasoline in foreign currency, added three of the sources consulted who handle data from the oil sector.

That is more than double the 200 gas stations that the government of President Nicolás Maduro said in June 2020 that they would sell in foreign currency, after relaxing controls on the private sector to allow the economy to recover.

The changes trigger the expenses of ordinary Venezuelans, because a liter of subsidized gasoline costs 0.10 bolívares (about 0.023 dollars) and gasoline without subsidy is at 0.5 dollars.

With the subsidized price, customers can purchase a monthly quota of 120 liters, while with the price in dollars there are no limits. There are 1,500 gas stations in the country.

“Until now there are some (pumps) without being changed (with a subsidized price) but one always has the fear of being left without a subsidy,” said José García, a 48-year-old taxi driver who lives in Punto Fijo, a city in western Venezuela, adding that paying more expensive gasoline will affect your work because you would have to raise your rates or stop using your car.

Those who go to gas stations that charge in foreign currency spend at least 20 dollars to fill up their vehicles, when the monthly minimum wage is equivalent to 29 dollars.

State-owned PDVSA and the oil ministry did not respond to a request for comment.



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