Venezuela had made 1 million barrels of gasoline ready as relief aid for hurricane-stricken areas in the United States, Venezuelan President Hugo Chavez said on Thursday.

Venezuelan Energy and Oil Minister Rafael Ramirez, who is also the president of the State-run oil firm PDVSA, said the gasoline is ready to be sent to the United States through Citgo, the US branch of PDVSA.

Ramirez said the move is meant to ease the soaring prices of gasoline in the United States in the aftermath of the devastating hurricane.

The minister also said Venezuela is ready to hand over 5 million US dollars in donations to the United States.

Venezuela is the world's fifth largest oil producer and the fourth most important oil exporter to the United States.

Hurricane Katrina, which struck the Gulf Coast on Aug. 29, caused unprecedented losses of life and property, and set off a massive humanitarian crisis.

Estimates of the disaster's cost are approaching some 200 billion US dollars.

Source: Xinhua