Maduro’s regime increases the price of subsidized gasoline by 1.900%

The price of subsidized gasoline in Venezuela increased from 0.005 bolivars per liter (0.001 dollars) to 0.1 bolivars (0.2), an increase of 1.900%, reported the state-run oil company PDSVA. Dollarized gasoline, the most consumed in the country, will remain at 0.5 dollars per liter, assured PDSVA.

The measure was adopted after a monetary reconversion that came into effect on October 1. The reconversion took six zeros off of the Venezuelan currency and changed the name of the currency from sovereign bolivar to digital bolivar, said PDSVA on social media.

“By virtue of the new measure on October 1, 2021 of the new Monetary Expression, that is of the Digital Bolivar, it is necessary to adjust and consequently update the price in bolivars of subsidized fuel, which, as of Sunday 24, 2021, is established in the amount of ten cents,” reads PDSVA statement.

Subsidized gasoline was introduced on May 30^th of last year, and became effective one day later amid a severe gasoline shortage. This measure allows every vehicle to obtain up to 120 liters of gasoline per month. Depending on the dates announced by the regime, cars may only fill up on the days that correspond to their license plate numbers.

Motorcyclists, a population that has increased significantly in the country due to the crisis, only receive 60 liters of subsidized gasoline every month.

People who fill up their vehicles with dollarized gasoline do not have a limit of liters per month and do not need to wait for the dates assigned by the regime to fill up. However, they pay a higher price per liter.

Regardless of the method, Venezuelans stand in long lines to fill up their gas tanks, risking not being able to get any gasoline when it is their turn.