Venezuela's government is raising gasoline prices sixtyfold
— the first increase of any kind in more than 17 years as the country struggles
with an economic collapse. Yet drivers will still be able to fill their tanks
for pennies. President Nicolas Maduro announced Wednesday that he was
increasing the price of gas as part of a series of measures designed to help
with the falling price of oil, which makes up 95 percent of Venezuela's export
earnings. He raised the price of 95-octane gasoline from .097 bolivars a liter
to 6 bolivars per liter, and 91-octane gasoline from 0.07 bolivars to 1 bolivar
per liter. More… 
Thursday, February 18, 2016
Venezuela Hikes Gas Prices for First Time in Nearly 17 Years
Venezuela's government is raising gasoline prices sixtyfold
— the first increase of any kind in more than 17 years as the country struggles
with an economic collapse. Yet drivers will still be able to fill their tanks
for pennies. President Nicolas Maduro announced Wednesday that he was
increasing the price of gas as part of a series of measures designed to help
with the falling price of oil, which makes up 95 percent of Venezuela's export
earnings. He raised the price of 95-octane gasoline from .097 bolivars a liter
to 6 bolivars per liter, and 91-octane gasoline from 0.07 bolivars to 1 bolivar
per liter. More… 
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