Venezuela Raises Fuel Prices and Enables Private Gas Stations

The cheapest fuel in the world is becoming slightly more expensive.

RIO DE JANEIRO, BRAZIL - A new fuel price system has come into force in Venezuela. Fuel prices, traditionally the cheapest in the world, are being raised. As an innovation, private petrol station operators are now allowed to import petrol and sell it in foreign currency.

To date, fuel has been supplied to the population in the world's most oil-rich country virtually free of charge. In 2018, the German news agency DPA wrote that with one euro one could "go for a coffee or fill up 20,000 mid-range cars" in Venezuela.

Recently, partly because of ever tougher . . .

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