Venezuela’s president has said its subsidized fuel prices should rise, to stop smugglers cheating the country out of billions 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 according to a report by the BBC.
Like many oil producing nations, Venezuela offers its citizens heavily subsidized petrol.
The price of a liter of petrol in Venezuela currently stands at 1 Bolivar.
A fuel price rise in 1989 caused deadly riots in the capital, Caracas.
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