Venezuela crisis: Maduro to curb fuel subsidies

Venezuela crisis: Maduro to curb fuel subsidies
 

Venezuela's president has said its subsidised fuel prices should rise, to stop smugglers cheating the country out of millions of dollars.
"Gasoline must be sold at an international price to stop smuggling to Colombia and the Caribbean," Nicolás Maduro said in a televised address.
Like many oil producing nations, Venezuela offers its citizens heavily subsidised petrol.
Smugglers can then line their pockets reselling the oil in nearby countries.
Venezuela's economy is in freefall, with inflation rates estimated to reach a million percent this year - but the price of oil has barely... read more

 
14 August 2018 in Business, Views: 47
Source: BBC
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