Venezuelan minister repeats pledge to raise domestic fuel prices

[Bacchus4.0]

http://www.reuters.com/article/2014/08/05/venezuela-gasoline-idUSL2N0QB2S520140805

Aug 5 (Reuters) - Venezuela will raise gasoline prices, the country's oil minister told reporters on Tuesday, repeating a government promise to increase the world's lowest fuel prices for the first time in two decades.

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According to government figures, cheap fuel costs the gasoline subsidiary of state-run oil company PDVSA $12.5 billion in losses annually.

Efforts to raise the price of fuel in Venezuela, which has the highest inflation in the Americas, reaching 60.9 percent year-on-year in May, have been delayed several times.

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A full tank of 91 octane gas for a small vehicle costs about 38 cents in Venezuela, four times less than a medium-sized bottle of water.

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It costs PDVSA 28 times more to produce gasoline than its sales price. For diesel, the production costs are 50 times what consumers pay at the gas station.
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Thousands protested and hundreds were killed in clashes in the early 1990s when the government doubled gas prices and pushed public transport costs up 30 percent.


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I believe they are looking to raise gas prices about 700%

[MADem]

1. The money is worth toilet paper, which is not available in the shops, and they want even MORE

of it in a land that is founded upon petroleum products?

Real smooth move!

[Bacchus4.0]

2. The public response is what will be most telling. Given the previous socialist gov under Carlos

Andres Perez only raised costs 30% versus the proposed 700% by the maduro government. Will people take to the streets again?

[MADem]

3. Unless he gives his PVSA rank-and-file super secret discount cards, his loyal followers will

not be loyal. How will his thugs, in the style of the Persian Baseej, be able to fuel up their motorcycles from which they shoot and beat innocent citizens?

How many refrigerated trucks full of chickens earmarked for his loyal crew can he continue to provide? And how long will a chicken in some pots make up for no gas in the tanks?

[Bacchus4.0]

4. Yes, the response within chavismo will be quite fascinating. Many think maduro hasn't held to the

ideas of chavez. Apparently, he is not fucking up Venezuela fast enough for them. I think he's doing a pretty good job at it frankly.

[MADem]

5. Where will Cheverito "y todos esos turistas" get the gasoline for their jeeps, I wonder?

http://caracaschronicles.com/2014/08/01/the-crazy-expensive-and-illegal-adventures-of-cheverito/

?w=700&h=310

[Bacchus4.0]

6. China is where the gas will be n/t

[MADem]

7. You got that right!! nt