Caracas, April 20 (EFE) .- Venezuela fuel keeps prices well below the values other countries-including oil-continent and the world, in a situation of increasing concern to the Government, aware of the impossibility of maintaining the subsidies indefinitely.
The hackneyed expression in Venezuela gas is cheaper than water is not a cliché. One liter of 95 octane gasoline costs 0.097 Bs (about two cents), while a liter of vital liquid can be purchased at the best of three Bs (about 70 cents), 35 times the fuel.
This situation far from looking good is not, as recognized this week Finance Minister Jorge Giordani, declaring the newspaper Panorama that " the price of gasoline is given " in his country and stressed that the government of Hugo Chavez should "go to a progressive process that allows it to pay costs. "
One liter of 95 octane gasoline costs 0.097 Bs (about two cents), while vital liter of fluid can be purchased at the best of three Bs (about 70 cents)
Pimentel Ramon Castro Former Vice President Deltaven, a subsidiary trading company Petroleos de Venezuela (PDVSA), recalled in comments published today by the daily El Nacional that prices have not moved in Venezuela since 1997 and which do not cover production costs.
That decision is costing the country's coffers, it said in February the Minister of Energy and Petroleum Rafael RamÃrez, nothing modest figure of 1,500 million dollars annually.
Venezuela's subsidy is much stronger than in other oil countries, like Bolivia, where a gallon of gasoline fluctuates between 54 dollars and 69 cents r, at a cost to the Government of $ 600 million annually.
Venezuela's subsidy is much stronger than in other oil countries, like Bolivia, where a gallon of gasoline fluctuates between 54 dollars and 69 cents r, at a cost to the Government of $ 600 million annually.
In Ecuador, which produces oil but imports fuels, a liter of unleaded gasoline is 44 cents and diesel by 23, while in Brazil, where the price is free, you pay between 1.45 and 2.2 dollars, while gasoline contain 25% ethanol.
state oil company Petrobras charges the dealer in the country around 1 real per liter (63 cents), price on that charge around 57% in taxes.
The fuel subsidy costs the Mexico around 8,500 million dollars a year, but gasoline does not fall below 77 cents per liter, also apply to authorities for years small price increases for national contributions resemble internationally.
In the U.S., where there is no gasoline subsidies but tax breaks to oil, the price of fuel this week's low dollar per liter in the cheaper version.
countries that receive Venezuelan oil at preferential terms have lower prices. In Cuba the government decreed an increase last month left a gallon of gasoline $ 1.40 special and regular 1.20.
also benefit from Petrocaribe-mechanism devised by Chavez to sell oil in advantageous conditions to the region, "Dominican Republic has a liter of unleaded gasoline at $ 1.52, and Uruguay, country that applies no subsidies, a liter of premium gasoline costs $ 1.75.
countries that receive Venezuelan oil at preferential terms with the lowest prices
In both countries there have been major increases in recent months, as in Nicaragua, a country also benefited from Venezuelan oil, but that does not subsidize fuel and which has seen prices increase by 17 to 23% since January.
Nicaraguans pay about $ 1.37 per liter of premium gasoline and 1.19 for diesel, up from other Central American countries like Guatemala (1.26 and 1.13), Honduras (1.27 and 1.12) and the pair of Costa Rica (1.34 and 1.22).
Panama has the 91 octane and diesel at 1.05 around the dollar, while other countries such as Peru kept in 1.46 liter of 97, similar to gasoline price extra Colombia (1.44) and to 1.40 of the super in Paraguay.
In Chile, where today inaugurated the first rapid charging station for electric vehicles throughout Latin America, the rising price threatens to trigger inflation.
But beyond cost, the price of fuel has other implications for the Venezuelan government.
" The main result is the waste: people use cars more than usual, is a very serious problem or "the analyst told Efe Jose Guerra, director of the Economic School of the Universidad Central de Venezuela.
Ending the subsidy in Venezuela are no easy solutions, as recalled by war, noting that would require an awareness campaign to find resistance in the population.
" How you gonna tell the Venezuelans are going to increase the price of gasoline when you're giving away on the outside? "the economist said in reference to the preferential agreements.
addition, the 2012 elections on the horizon, the possibility to make a price correction in fuel is diluted.
"A year ago they tried to do, but I think either this year or next they will do. Forget "said Guerra.
Courtesy: EFE
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