Salvadoran President Nayib Bukele revealed on Friday that Chivo wallet users will be able to benefit from a discount on refueling at the country’s largest service stations. Chivo wallet users who pay for fuel will save $0.20 per gallon using the government’s encrypted wallet.
Salvadoran President Nayib Bukele’s government subsidizes the country’s gasoline market
After Salvadoran President Nayib Bukele unveiled the volcano-fueled bitcoin mining facility last week, Bukele informed his Twitter followers of two positive implementations the government has adopted. To begin with, Bukele explained that he signed a decree authorizing a fund to stabilize gas prices in El Salvador. He noted that an increase in gasoline prices was expected, but his decree halted the increase.
In fact, gasoline prices will be “slightly reduced,” Bukele said. “The government is going to absorb the increases that have been taking place in the international market for a year,” said the Salvadoran president. “If there is any reduction, it will be passed on directly to the consumer in the price of LPG cylinders (of all existing brands in our country),” added Bukele.
The president also said that families that already receive the gas subsidy will continue to benefit from the aid and, as gas prices will not increase, they will see reductions. “This will not only ease the pockets of families, but also small businesses, thus helping to strengthen our economy, and the most vulnerable sectors will also benefit from our country’s economic growth,” said Bukele.
Chivo Wallet users will save $0.20 per gallon
After these statements, Bukele explained that Bitcoin Chivo wallet users will be able to get a discount on gasoline per gallon on refueling.
The guidelines for this new discount are unclear, but Bukele said several of the country’s largest gas station companies would reduce the price of gas per gallon by $0.20 if a customer uses the Chivo gas wallet app to pay . He also shared some ads that were showing some of the participating gas stations. Bukele said:
State-owned Chivo negotiated with the largest gas station companies in our country, so that starting tomorrow these stations sell each gallon of fuel at US$ 0.20 cheaper, with Chivo's portfolio.