The President of Venezuela, Nicolás Maduro, announced this Saturday that as of June 1, gasoline will begin to be supplied at all service stations in the country under a new pricing and participation scheme.
Gasoline subsidized by the Venezuelan Government will cost 5,000 bolivars per liter and may be purchased monthly up to a maximum of 120 liters of fuel for private vehicles and 60 liters for motorcycles.
Nicolás Maduro announced his new distribution and supply plan for the gasoline he imported from Iran, and established a private import and sale system for individuals at 200 gas stations around the country.
The measure, which will last 90 days, includes three complementary modalities:
- First, a subsidy system for the general public in all the service stations in the country at a price of 5,000 bolivars per liter. This modality will be controlled through the homeland platform and the homeland card will be necessary to supply. It will be restricted to just 120 liters per month for cars and 60 liters for motorcycles.
- The second modality consists of the total subsidy of public transport. “We will be talking,” Maduro said about the details of this modality that will be discussed with the transporters’ union.
- Third, Maduro arranged 200 gas stations nationwide for the sale and distribution of gasoline at international prices. The fuel will be available over the counter and will be priced at $ 0.50. The exchange rate for payment in bolivars was not specified, but it is assumed so far that the price of the dollar in the Bank of Venezuela will be used as a reference.