Maduro will regulate a taboo subject: the sale of fuel

Despite the crisis, the country has the cheapest gasoline in the world

CARACAS (AFP) .- The Venezuelan president, Nicolás Maduro, announced this weekend the regulations for the sale of naphtha – The cheapest in the world – At a party congress in power that paradoxically debates to relax the rigid controls on the economy to overcome the crisis.

Although he did not mention a rise, Maduro pointed out that current fuel prices do not cover production costs and encourage smuggling. So he proposed to regularize his sale through the country map, electronic map that gives access to state subsidies.

"The gasoline says that it is given little, we pay to throw it out (…), we have it will go to a rational use (…) and this will have an impact on changes in all car transport, "said the president at the forum of the United Socialist Party of Venezuela (PSUV). To do this, Maduro said that from August 3 to 5, a census would be made, through the map of the country, "to all those who have a vehicle".

Venezuela has the cheapest gasoline in the world: a dollar can be paid more than three million liters and the socialist government denounces that the mafias are smuggled to other countries.

Maduro announced on Wednesday that August 20 will eliminate five zeros from the currency (two more than expected) and new coins and notes will come out amidst an inflation that according to the IMF could reach 1,000,000% this year

With the new currency of lower value, with 0.5 bolivars (50,000 bolivars today) could be acquired 50,000 liters of naphtha

Analysts believe that this distortion makes it very likely that the Government will be forced to adjust the price of fuel.

The rise of naphtha is a taboo subject in the oil country. On February 17, 2016, Maduro lifted it for the first time in two decades to 1 bolívar per liter

In the forum, which at the request of the president will last until August 30, the l? Possible elimination of controls is discussed. the economy, which badysts said generated the serious crisis that triggered poverty and pushed hundreds of thousands to emigrate.

The Minister of Education, Elías Jaua, confirmed that they will address two proposals on the cost of naphtha: the price of fuels and (…) a policy of internationalization of prices Jaua said that another sensitive issue will be discussed: the exchange rate regime, since the state has been monopolizing the foreign currency since 2003.

While the government controls the currency of the country, economy, import dependent and in the severe crisis, the black market marks the price of several commodities

The installation of the congress, which takes place every four years, takes place in the middle of d & # 39; a verbal cross between Maduro and Chavismo leaders who demand greater flexibility of interventionist politics