Oswaldo Felizzola, coordinator of the International Center for Energy and Environment (CIEA) of Venezuela, assured that the current cost of gasoline in the country, at US$0.50 per liter, limits Petróleos de Venezuela SA (Pdvsa) in terms of carrying out investment, expansion, maintenance and service improvements.
He emphasized that the cost of fuel in Venezuela is one of the cheapest in the world, although he highlighted that gasoline with subsidies from the State, which is cheaper than that established at international prices, It is already very difficult to access for the citizen.
The expert explained that “it is practically not available on the market” and involves standing in long lines – which can take days to move – to obtain it. He added that the situation is similar with the purchase of fuel at international prices in the interior of the country.
He said that national gasoline consumption has decreased in relation to the years 2008-2012, a period in which the highest consumption was recorded with almost 140 thousand barrels per day. The expert indicated that current consumption is between 80 thousand and 85 thousand barrels of fuel per day. “This is indicative that the Venezuelan market may still need more gasoline.”
The researcher explained that the “best model” to establish the cost of fuel is a “price variation that allows it to be adjusted to the realities of the market.” However, he stressed that a price equivalent to “75 cents per liter seems to be the most natural for Venezuela”.
I point out that if the price increases and more resources will enter the state energy company “which urgently needs them to be able to increase gasoline production and it will facilitate more supply,” he said in an interview for Union Radio.
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