Venezuela Tests Higher Fuel Prices as Oil Sector Opens
An attendant pumps fuel for a vehicle at a Petroleos de Venezuela gas station in Caracas, Venezuela.
Photographer: Bloomberg/BloombergVenezuela has started to increase fuel prices at gasoline stations in Caracas as it seeks fresh revenue while reopening its oil industry to foreign investment and boosting output.
State-controlled Petróleos de Venezuela SA began offering premium gasoline at a handful of stations in the capital, charging roughly double the price of regular fuel. An initial rollout includes 10 stations selling 97-octane gasoline exclusively in dollars, according to two people with knowledge of the plan.