Venezuelan Diesel Price to Stay Put After Gasoline Hike

Venezuela’s government, which sharply hiked gasoline prices on Friday, will not increase the price of diesel because that could feed into higher food and bus fares, President Nicolas Maduro said on Saturday. The government raised the price of gasoline for the first time in nearly 20 years, raising it over 1,300 percent for 91-octane gasoline and over 6,000 percent for 95-octane, though it still remains the world’s cheapest gasoline.“I decided to leave diesel as it is, not to touch diesel so that there’s no problems with cargo or public transport,” Maduro said in a televised broadcast. More…