The petrol gas stations around Venezuela would charge less for the gasoline sold in exchange for oil-backed cryptocurrency, Petro which has been issued by the Venezuelan Government, according to an <a href="https://blog.petro.gob.ve/ahora-con-petro-puedes-pagar-la-gasolina/" target="_blank" rel="noopener">announcement</a>.

It is to be noted that the country has removed the local petrol subsidies, therefore, now the gasoline price would surge up from close to nothing to $0.02 litre.

On June 01, amid the acute shortage of petrol, the Government of Venezuela eliminated the gasoline subsidies. 
<h2>Petrol Regime For Customers</h2>
According to the new petrol regime, now the car-owners in Venezuela would be distributed 120 liters gasoline per month at around $0.02. The new regime further mentioned that every month the motorcyclists will get 60 liters of petrol.

The petrol regime notified that now the gas stations across Venezuela would accept the Petro payment from the customers.

But the customers could not make the payment using the Petro App, the digital wallet of Petro, they would have to use the Patria biometric payment system for this.

The largest bank of Venezuela has designed this, Patria biometrics payment system, and currently, it has not harmonized with the sole digital wallet of Petro.
<h2>Fatherland Card Must For Subsidized Petrol</h2>
Venezuela has mentioned that the citizens who have the Fatherland Card of the country could only get subsidized petrol.

The Fatherland Card is ID proof, and when it was launched, most of the people criticized it because according to them, the card was a demonstration of autocratic control. Therefore, in recent time very fewer people in Venezuela has issued this card for themselves.

The notification states that the people who do not have the Fatherland Card would have to $0.50 per liter for the petrol.

Most drivers in the country are able to get petrol for free and which creates an opportunity for the black market.

A report states that in Venezuela’s black market the petrol cost $4 per liter.

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Venezuela Gasoline Stations Accepts Petro, Petrol Price Increases In Country

The petrol gas stations around Venezuela would charge less for the gasoline sold in exchange for oil-backed cryptocurrency, Petro.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Venezuela Gasoline Stations Accepts Petro, Petrol Price Increases In Country

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