Venezuela may be losing its nickel-a-gallon gas
Venezuelans tend to drive cars that aren't fuel efficient because of the low price of gas, and consumption of the fuel reportedly is 40-times higher than in any other Latin American nation. Lucas Davis, a University of California - Berkeley energy specialist, gives some context: "Prices are so cheap in Venezuela that they may make Saudi Arabia and Iran look expensive."
A native Venezuelan who drives a 1975 Ford LTD station wagon says, in Venezuela, "You spend more on liquor than you do on gas."
The government's plan to raise gasoline prices is being sold on Maduro's promise to reinvest some of the money into building schools and homes, but the effects of raising prices should have other positive effects in the country, such as lowering pollution (assuming Venezuelans are willing to buy more fuel-efficient cars) and reducing black-market oil trading and road congestion.
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