Venezuelans found out more details today about the incoming increase to gas prices, which Maduro revealed last night during a televised press conference.

Speaking last night, Maduro said that gasoline will now cost Bs. 5,000 per litre in most of the gas stations around the country, while 200 licensed, privately-owned stations will be allowed to sell the fuel at $0.50 per litre. The average current price for gasoline in Venezuela is Bs. 0.00006 per litre, which is equivalent to less that one cent in USD.

Minister of Oil Tarek El Aissami outlined an 11-point outline of how motorists will be paying for gasoline starting tomorrow. Below is my paraphrased translation of these 11 points as published by El Nacional

  1. The fuel subsidy will be paid out through the Sistema Patria, which will require Venezuelans to sign up for a card (which is different from the carnet de la patria).
  2. 1,368 gas stations will be allowed to sell gasoline at subsidized prices from 6:00 AM to 7:00 PM.
  3. Motorists with the Sistema Patria card will be able to buy subsidized gasoline at Bs. 5,000 per litre, to a maximum of 120 litres per month.
  4. Motorcyclists will be limited to 60 litres of subsidized gasoline per month.
  5. Subsidized gasoline will be sold according to the last digit of the vehicle’s license plate. Plates ending with 1-2 will be allowed to pump subsidized gas on Monday; 3-4 on Tuesday, 5-6 on Wednesday, 7-8 on Thursday, and 9-0 on Friday.
  6. [Note: El Nacional‘s text here is unclear. It reads: ” Las personas que tenga algún problema con los papeles de su vehículo, podrán ir con sus documentos y será atendidos.” I think that means, “If motorists have problems with their vehicle’s documents, they can bring them to the gas station and they’ll be looked after”].
  7. Whenever motorists pump subsidized gasoline, they will receive a text message telling them how much of their 120 litres they have left for that month.
  8. How this subsidized gas scheme will affect public transportation will be the focus of a working table to be set up between the government and the public transport system.
  9. There is a list of 200 privately-owned gas stations that will be allowed to import gasoline after acquiring a license from the government.
  10. These 200 private-owned gas stations will sell gasoline at the price of $0.50 USD per litre.
  11. These 200 private-owned gas stations will not be subject to these new regulations, and will be allowed to operate between 6:00 AM and midnight.

Historically, gasoline has been practically free in Venezuela.

Questions/Comments? Email me: invenezuelablog@gmail.com

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