Venezuela rolls out dollar-priced premium petrol in Caracas pilot
Venezuelan petrol pilot: what changed and why
The state oil operator has launched a small-scale program in the capital to sell a higher-octane gasoline product at a premium price point. At the center of the test is 97-octane fuel being offered only at a limited set of outlets and billed in US dollars, creating a dual-price dynamic in urban retail markets.
The trial is concentrated and measured: an initial group of 10 stations is handling the new product, with sales focused on consumers who can pay in foreign currency. That small footprint keeps immediate fiscal and social exposure contained while providing real-world data.
Officials framed the step as a revenue tactic tied to a broader push to attract outside capital and boost crude and refined-product production. By pricing one grade externally, authorities test consumer tolerance for reduced subsidy levels and link retail policy to upstream investment signals.
Operational effects are targeted: shifting some transactions into dollars improves foreign-currency liquidity and reduces pressure on domestic reserves, while letting the state capture more cash per litre sold. Yet the pilot also sets a precedent for differentiated pricing between fuel grades and payment types.
- Limited rollout: 10 stations in Caracas are participating.
- Product specs: 97-octane sold at a premium versus regular petrol.
- Payment currency: sales carried out in USD, not local currency.
The experiment balances short-term revenue collection with careful political risk management; concentrated implementation helps avoid rapid nationwide price shocks. Expect authorities to monitor uptake, substitution away from cheaper grades, and any public pushback before widening the plan.
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