Venezuela is expanding a network of
retail fuel outlets near the border with Colombia in a controversial maneuver
to strengthen the sharply devalued local currency. The stations operated by
Venezuelan state-owned PdV can only sell fuel in Colombian pesos exclusively to
vehicles registered in Colombia. Caracas is seeking to capture at least part of
the revenue generated by smugglers who routinely resell up to 100,000 b/d of
cheap Venezuelan gasoline and diesel in the higher-priced Colombian market.Three
service stations offering fuel priced in pesos to Colombian drivers are already
operating in Zulia state, and 11 more will be operational before the end of
next week, Venezuelan president Nicolas Maduro said on 18 January. The stations
will be located near border crossings in Tachira, Zulia, Apure and Bolivar
states, and are intended to snuff out contraband mainly to Colombia, Maduro
said. More…
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