Maduro: Fuel prices must go up

Maduro: Fuel prices must go up

World August 14, 2018 09:15

caracas - The Venezuelan president Nicolás Maduro thinks that fuel prices in his country should rise to 'international' levels. That should put traffickers on foot.

The government of the oil-rich country has kept the price of fuel artificially low for decades. Smugglers do good business by reselling heavily subsidized petrol in countries like Colombia. Such practices are a thorn in the face of the government.

The Venezuelan economy has been severely disrupted by hyperinflation, although fuel prices have hardly changed. Local media reports that Venezuelans recently had to pay around 2.2 billion bolivars for a cup of coffee with milk. For that amount the tank of a small SUV can be followed almost 9000 times.

Maduro says the government will provide 'direct subsidies' to citizens with identification documents. They must then have given up their vehicle during a government census.

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