Venezuela’s PDVSA extends diesel sales in dollars, cutting subsidy

A car drives past El Palito refinery which belongs to PDVSA in Puerto Cabello, in the state of Carabobo, March 2, 2016. REUTERS/Marco Bello/File Photo

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PUNTO FIJO/VALENCIA, Venezuela, May 30 (Reuters) – Venezuela’s state-run PDVSA has ordered over a hundred stations to begin selling diesel in dollars, reducing a subsidy that had allowed truckers and public transportation drivers to fill their tanks almost for free, according to documents and sources.

Venezuela had set a diesel retail price of $0.50 per liter in late 2021 for some stations but a parallel system in local currency continued working, allowing most drivers to access the subsidy.

In recent weeks, however, long lines of trucks and buses looking to fill up their tanks at domestic prices led PDVSA to expand the number of stations charging fuel in dollars.

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