El Salvador: Gas Stations Give Discount If You Pay With Chivo Wallet
President of El Salvador, Nayib Bukele announced that gas stations in El Salvador would begin selling each gallon of fuel at a $0.20 discount for those who pay with the Bitcoin Chivo wallet.
From Thursday 30 September onwards, Salvadorans, public transport, and any local company can use Chivo to get the gas benefit. As per the announcement posters, the gas price promotion is valid until 14 October at least.
There three primary reasons for the discount. Firstly, to combat the international increases in gas prices. Secondly, to reduce the cost of supply chains for individuals and businesses in the country. Thirdly, to promote the use of Bitcoin through the state sponsored Chivo wallet app.
Regardless of how bullish Bukele is about Bitcoin, there has been resistance as the price of Bitcoin has depreciated $9,000 at the time of writing, since El Salvador made it legal tender.
2. La empresa estatal Chivo negoció con las empresas gasolineras más grandes de nuestro país, para que a partir de mañana, sus estaciones vendan cada galón de combustible $0.20 más barato, con @chivowallet.
Nayib Bukele also announced a signed decree to reduce the price of gas per 25-pound barrel nation-wide, to combat the international market’s programmed increase of $1.17.
“The Government will absorb the increases that are taking place in the international market for one year,” Bukele tweeted.
1. He firmado y ordenado la publicación del decreto que autoriza un fondo para estabilizar el precio del Gas Licuado.
Para mañana, el mercado internacional programaba un incremento de $1.17 en el cilindro de 25 lbs.
In the case that the international market causes a reduction in the price of gas, the barrel discount will be passed on to consumers.
Bukele commented:
“This will not only alleviate the pocket of households, but also that of small businesses, helping to strengthen our economy and that the most vulnerable sectors also feel the benefit of the economic growth that our country is having.”
