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Gasoline in Venezuela, the cheapest in the world, will rise from the first of June

Venezuela, where gasoline is the lowest in the world, enters on a new fuel pricing for gasoline, it will rise from 1 June, follows from the statements of President Nicolas Maduro.

The cost of gasoline in the domestic market of Venezuela thanks to government subsidies has long been one of the lowest in the world, but stop a significant part of the refinery of the national company PDVSA has led to the need to import fuel from abroad, particularly from Iran. Maduro said that the government will employ the plan of distribution of petrol in the country, which includes the revision of the cost of imported fuel in the domestic market.

The President said that the petrol in the country will be subsidized. "The price of gasoline taking into account the subsidies will amount to 5,000 bolivars a liter (or 2.5 cents U.S.), car owners will be able to count to 120 litres per month, motorcycles – 60 liters," said Maduro, his performance was broadcast to Twitter. In excess of the established quota of petrol will be charged at international prices.

Refilling of public transport will be subsidized at 100% for 90 days.

Starting Monday, the country has 1.5 thousand gas stations are willing to work to provide citizens with petrol. While the sale will be conducted in relation to the registration number on Mondays – if the number ends in 1 and 2, Tuesdays – if by 3 and 4, Wednesdays – if 5 and 6 on Thursdays if 7 and 8 on Fridays – if 9 and 0. In case of emergency a citizen may ask a gas station to change this.

In Venezuela a liter of 95-octane gasoline used to cost of 0.00006 bolivars and 91 0.00001, that is a symbolic fee for fuel, which, under the Constitution, is the property of the people as all subsoil and mineral resources. The official dollar exchange rate in the country is 195 thousand bolivars per dollar.