Venezuela Ali Rodriguez: Price of Domestic Gasoline will have to go up

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Venezuela Ali Rodriguez: Price of Domestic Gasoline will have to go up

By Elio Ohep PETROLEUMWORLD Caracas, Nov. 29

Venezuelan Oil Minister Ali Rodriguez said Wednesday in a television interview that the prices of domestic gasoline will have to go up to stop losses Venezuela oil company PDVSA.

"There are losses in gasoline prices and we have to make adjustments," Rodriguez said in Globovision TV station on Wednesday

"Losses for PDVSA also mean less fiscal contribution of PDVSA to Venezuela," he added.

Rodriguez also said that current high oil prices are driven by non-market factors such as speculation. "'Without speculation, oil prices would be within the target range of $22 to $28 a barrel," he said.

Rodriguez also talked of electrical tariffs where he expects an increase of around 15% next year. President Hugo Chavez will make the announcement in the next few days.

http://www.petroleumworld.com/story1531.htm

-- Martin Thompson (mthom1927@aol.com), November 29, 2000


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