VENEZUELA RE-ESTABLISHES POSTED PRODUCT PRICES
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
OPEC's 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.
 Reuter
