Venezuela’s Fuel Import and Pricing Decisions: An Overview and FAQs

2024-01-26 17:16:59

The government of Nicolás Maduro has made the decision to import 200 thousand barrels of premium diesel to satisfy the demand of its corporate clients at PDVSA, the Venezuelan state oil company. This measure aims to offer higher quality fuel at competitive, although not subsidized, prices.

In order to improve the supply of fuel, PDVSA has also proposed evaluating direct imports and authorizing third parties to bring high octane gasoline. This would benefit those consumers looking for a more efficient and better quality product.

Although the exact price of imported gasoline has not been specified, it is estimated that it will be around one dollar per liter. This measure seeks to balance import costs and guarantee a fair price for consumers.

In addition, the government has announced an increase in the price of diesel for the industrial sector, thus eliminating the subsidy that has been in place since 2020. Starting in mid-July 2023, the price of diesel will be $0.32 per liter. This decision seeks to guarantee a more realistic and appropriate price for the industrial sector, prioritizing those sectors that need it.

It is important to remember that in June 2020, a fuel distribution scheme was established in which a limited amount was subsidized (120 liters per month per person) and the rest of the population paid 0.50 cents per liter.

These decisions show the effort of the Venezuelan government to improve the quality and price of fuel, offering more competitive options adapted to the needs of the market. Through the import of premium diesel oil and the increase in the price of industrial diesel, greater efficiency and sustainability is sought in the country’s energy sector.

FAQ Section:

1. What is the objective of importing premium diesel in Venezuela?
The objective is to satisfy the demand of corporate clients at PDVSA, the Venezuelan state oil company, by offering higher quality fuel at competitive prices.

2. What other measures has PDVSA proposed to improve the supply of fuel?
PDVSA also proposes to evaluate direct import and authorization of third parties to bring high octane gasoline, benefiting those consumers who are looking for a more efficient and better quality product.

3. What is the estimated price of imported gasoline?
Although the exact price has not been specified, it is estimated that the price of imported gasoline will be around one dollar per liter.

4. What is the new price of diesel for the industrial sector?
Starting in mid-July 2023, the price of diesel will be at $0.32 per liter, thus eliminating the subsidy that has been in place since 2020.

5. What was the fuel distribution scheme established in June 2020?
In June 2020, a fuel distribution scheme was established in which a limited amount of 120 liters per month per person was subsidized, while the rest of the population paid 0.50 cents per liter.

Definitions:

– PDVSA: Petróleos de Venezuela SA, the Venezuelan state oil company.
– Premium diesel: Higher quality fuel used mainly in diesel engines.
– Industrial diesel: Fuel used in industrial machinery and equipment.

Related links:

1. PDVSA: Official PDVSA website.
2. Gasoline at PDVSA: Information about the fuel offered by PDVSA.
3. Diesel and PDVSA: Information about diesel offered by PDVSA.

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