Thursday February 25, 2021
  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast
Versión Español
PanAm Post
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
PanAm Post
No Result
View All Result

Home » Venezuela: Subsidized Gasoline Prices Set to Increase

Venezuela: Subsidized Gasoline Prices Set to Increase

PanAm Post Staff by PanAm Post Staff
December 18, 2013

0
0
SHARES
0
VIEWS
FacebookTwitterTelegramWhatsapp

EspañolThe Venezuelan government has publicly acknowledged that its gasoline subsidies represent losses close to US$12.6 billion dollars per year, according to the words of petroleum and mining minister and current president of PDVSA, Rafael Ramírez. The losses stem from the difference between the selling price of gasoline and the cost of production: 0.097 Bsf. per liter price for the last 17 years versus close to 2.7 Bsf.

That disparity leads to losses of close to VEN 86 million Bsf. per day, and the minister explained that “in this country people do not pay for gas, because PDVSA pays to sell the gas. With diesel the situation is worse.” PDVSA needs to recover its production costs.

RelatedArticles

Venezuela Opposition Leader Leopoldo López Will Consider Elections with Maduro

Former President of Colombia Warns About “Neo-Communism” And “Stabilization of Dictatorship” in Venezuela

November 16, 2020
Communist Weakness: Joe Biden’s Son Was Negotiating Business with China that Included Venezuela

Venezuela Could Run Out of Gasoline Before Maduro’s Fraudulent Election

October 29, 2020

Ramírez said that Venezuela sells the cheapest gasoline in the world, and blamed the citizens for squandering the supply.

“There is no prudence regarding reducing gasoline consumption, because it is not paid in the country.” Finally, he pointed out that “this grant does not favor the people in any way; rather, it has fostered Hummer parades and vehicles with greater fuel consumption.”

Representative María Corina Machado was critical of the measure, saying: “On what moral grounds does he claim that the Venezuelan people should pay for the gifts from the government to the Cuban regime? This is not taking away from the rich and giving to the poor; the government is taking away from the Venezuelans to give to Castro’s people.”

Machado also speculated regarding what will happen alongside the increase: “The cherry on the cake of the Cuban bundle is the increase for gasoline, followed by the increase in electricity rates and a devaluation of the bolivar, which started yesterday and has already been announced by Ramírez. This will mean a shortage for next year, hyperinflation, and a certain situation of chaos, distress, anarchy, and misery for all Venezuelans.”

Source: El Universal.

Previous Post

AppCircus: The Quest for Colombia’s Innovation

Next Post

Unpopular Populism in Chile

PanAm Post Staff

PanAm Post Staff

Related Posts

Venezuela Opposition Leader Leopoldo López Will Consider Elections with Maduro
Colombia

Former President of Colombia Warns About “Neo-Communism” And “Stabilization of Dictatorship” in Venezuela

November 16, 2020
Communist Weakness: Joe Biden’s Son Was Negotiating Business with China that Included Venezuela
Venezuela

Venezuela Could Run Out of Gasoline Before Maduro’s Fraudulent Election

October 29, 2020
Communist Weakness: Joe Biden’s Son Was Negotiating Business with China that Included Venezuela
Bolivia

Evo Morales Prepares Return to Bolivia with More Populism

October 29, 2020
Donald Trump, Restrictions Tourism Cuba
Cuba

Donald Trump Imposes New Restrictions on Tourism in Cuba

September 28, 2020
Chilean Economy Declines
Chile

Chilean Economy Declines 12.4% in June Due to Coronavirus Pandemic

August 6, 2020
ELN, Venezuela, Terrorist
Colombia

45% of the Colombian Terrorist Group ELN is in Venezuela

May 10, 2019
Next Post

Unpopular Populism in Chile

Discussion about this post

Subscribe free and never miss another breaking story

  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Privacy and Cookie Policy.