Govt. increases fuel transport, retail margins
Bnamericas Published: Wednesday, December 08, 2004
Venezuela's government has increased the margins on fuel transport by 37% and retail margins 23%, newspaper El Universal reported. Mines and energy minister Rafael Ramírez, also head of state oil company PDVSA, said that the measure is in addition to the exemption from sales tax on gasoline sales, shaving 5.44 bolívares off the price of a liter and meaning 8bn bolívares (US$4.17mn) less in monthly fiscal income. Venezuela's hydrocarbons law allows sales tax to be fully or partly waived for reasons of "public or general interest." A liter of unleaded gasoline in Venezuela costs 91 bolívares, some four US cents, while leaded costs 70 bolívares a liter.
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