Bolivia is among the Latin American countries with the lowest price of gasoline, which is currently at $0.54 as indicated last Thursday by the Ministry of Hydrocarbons and Energy.

The ministry also noted that the price of diesel is $0.53. The subsidized prices have had positive effects by containing inflation, but they have also generated million-dollar expenses for the State annually, according to Rocío Molina, advisor to this portfolio.

“The comparison reveals that the price per liter of gasoline in Bolivia stands at 0.54 dollars (equivalent to 3.74 bolivianos), while in neighboring countries such as Paraguay, Brazil, Argentina, Peru and Chile, prices range between 0. .91 and 1.40 dollars per liter. In the case of diesel, Bolivia also shows competitive prices, with 0.53 dollars per liter, in contrast to the 1.017 to 1.29 dollars observed in Uruguay, Argentina, Chile and Brazil. However, Molina lamented the negative impact of fuel smuggling, facilitated by subsidized prices.”

Molina warned that as long as the country maintains the price subsidy, it will be almost impossible to control smuggling and millions will be lost that could be dedicated to other areas, such as health and education.

Last week, the Minister of Hydrocarbons and Energy, Franklin Molina, said that “the subsidy for hydrocarbons went from 200 million dollars, in 2008, to almost 2,000 million dollars in 2023 and this year a similar amount is projected.”

The minister was favorable to President Luis Arce’s proposal to make “a referendum to make a decision of maintaining this subsidy.”

M.Pino

Source: spanish.news.cn

(Reference image source: Unsplash+, in collaboration with Getty Images)

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