Venezuela in dilemma over hiking world's cheapest fuel


  • World
  • Wednesday, 10 Sep 2014

A man pumps gasoline at a service station in Caracas August 7, 2014. REUTERS/Jorge Silva

CARACAS (Reuters) - President Nicolas Maduro is mulling a politically risky move to raise highly subsidized gasoline prices in Venezuela for the first time in 17 years, but may be put off for now by fears of a social backlash.

With 95 octane gas on sale for less than two U.S. cents a litre most motorists can fill up for under $1 (£0.62) - less than a small bottle of drinking water. Pump attendants often end up with a bigger tip than the cost of the fuel.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Australian police shoot dead boy after stabbing with 'hallmarks' of terrorism
Togo ruling party wins sweeping majority in legislative poll, final provisional results show
Dead bodies in Mexico most probably are missing U.S., Australian surfers
Roundup: Tanzania battles devastating floods triggered by torrential rains
Think tank report highlights China's approach to modernization
Tropical storm Hidaya weakens as it makes landfall in Tanzania
Feature: Chinese cars gain popularity in Botswana
Torrential rains lash multiple cities in China's Guangdong
First batch of export vehicles under China-Ecuador FTA to set sail
China-France forum underscores people-to-people, cultural exchanges

Others Also Read