Petroleos de Venezuela PDVSA the state owned oil company has re-established posted prices for some light products and heavy fuel oil industry sources in New York said. The return to posted prices is a sign that the market is returning to a more stable and orderly condition after a year of volatile price movements in which Venezuela ceased posting prices and moved to negotiating prices with companies. We are in more stable market now and PDVSA has probably decided to return to postings for some products one industry trade source said. But there was no talk of Venezuela posting prices for crude oil which were also dropped in 1986. Posted prices were dropped in the first quarter of 1986 when prices for crude oil and products tumbled in response to OPECs market share strategy and netback arrangements. PDVSA has set out posted prices for several groups of light products including gasoline naphtha jet kerosene and distillates effective April 15 as follows. Unleaded gasoline was posted at 19.74 dlrs a barrel (47 cts a gallon) with leaded gasoline at 20.16 dlrs a barrel (48 cts a gallon). Light naphtha was posted at 17.85 dlrs a barrel (42.5 cts a gallon) full range naphtha at 19.11 dlrs a barrel (45.50 cts a gallon) and heavy naphtha at 19.53 cts a gallon (46.5 cts a gallon). Jet kerosene was posted at 18.90 dlrs a barrel also effective April 15 or (45 cts a gallon) with dual purpose kerosene at 18.06 dlrs a barrel (43 cts a gallon). Distillates of 0.2 pct sulphur and 0.3 pct sulphur grades were posted at 18.48 dlrs a barrel (44 cts a gallon) each with 0.5 pct sulphur 18.08 dlrs a barrel (43.05 cts a gallon). LPG postings also effective from April 15 were made as follows propane 175 dlrs a tonne (33.33 cts a gallon) butane 210 dlrs a tonne (46.26 cts a gallon) and isobutane at 240 dlrs a tonne. Heavy fuel products were given a posted price effective April 10 and ranged from 0.3 pct sulphur at 19.35 dlrs a barrel to 17.21 dlrs a barrel for 2.8 pct sulphur. Heavy fuel postings are also referred to as minimum export prices.
VENEZUELA RE-ESTABLISHES POSTED PRODUCT PRICES