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Venezuela’s heavily subsidised domestic gasoline prices should rise to international levels to avoid billions of dollars in annual losses due to fuel smuggling, president Nicolas Maduro has said.
“Gasoline must be sold at an international price to stop smuggling to Colombia and the Caribbean ,” Mr Maduro said in a televised address on Monday.
Venezuela, like most oil producing countries, has for decades subsidised fuel as a benefit to citizens.
But the country's fuel prices have remained practically flat for years despite soaring hyperinflation the International Monetary Fund has projected would reach 1,000,000 per cent this year.
That means that for the price of a cup of coffee, a driver can now fill the tank of a small SUV nearly 9,000 times.
Smugglers can make considerable profits reselling fuel in neighbouring countries.
A turbulent year in VenezuelaShow all 11 1 /11A turbulent year in Venezuela A turbulent year in Venezuela Demonstrators scuffle with security forces during an opposition rally in Caracas, Venezuela, April 4, 2017. Venezuelan security forces quelled masked protesters with tear gas, water cannons and pepper spray in Caracas after blocking an opposition rally against socialist President Nicolas Maduro. The clashes began after authorities closed subway stations, set up checkpoints and cordoned off a square where opponents had planned their latest protest against the government and the crippling economic crisis. Carlos Garcia Rawlins: "For me that was the day that made a difference, never before had I seen the protesters and police clashing men-to-men and struggling back and forward. From then, the strategy of the police changed and they never faced the protesters so close again."
Reuters
A turbulent year in Venezuela A man who was set on fire by people accusing him of stealing during a rally against Venezuela's President Nicolas Maduro runs amidst opposition supporters in Caracas, Venezuela, May 20, 2017. Marco Bello: "I spotted a man running in front of me as a group of protesters, most of them hooded and with makeshift shields, were chasing him so I followed them. Some 100 meters down the street, the protesters caught the man and surrounded him. When I walked up and went through the circle of people to take pictures, someone had already poured gasoline over the man and set him on fire.
Reuters
A turbulent year in Venezuela "Rowdy groups of government supporters busted into Venezuela's opposition-controlled National Assembly. There were several clashes happening at the same time, so I tried to follow a small group of attackers as they pushed their way through the main building. By the time I got into the building, they had already finished hitting people and were on their way out, leaving behind an opposition lawmaker covered in blood. I quickly went over to the politician, Leonardo Regnault, whose grey suit was spattered in blood. He was up against an ornate wooden door, clearly in a state of shock. Another opposition lawmaker, Luis Stefanelli, was standing next to him, hands up in a sign of surrender and pleading with the attackers to stop the beating.
Reuters
A turbulent year in Venezuela A member of the riot security forces points a gun through the fence of an air force base at David Jose Vallenilla, who was fatally injured during clashes at a rally against Venezuelan President Nicolas Maduro's government in Caracas, Venezuela,
Reuters
A turbulent year in Venezuela A demonstrators attends a rally against Venezuela's President Nicolas Maduro's government in Caracas, Venezuela, June 19, 2017. Ivan Alvarado: "I was under the highway photographing some protestors who had surrounded a woman they accused of stealing a phone from someone. I turned around to check what was happening behind me and saw this man appearing from the shadows to see what was going on. The white on his face is salt, which the protestors said helped to reduce the effects of the tear gas."
REUTERS
A turbulent year in Venezuela Riot security forces clash with demonstrators as a motorcycle is set on fire during a protest against Venezuelan President Nicolas Maduro's government in San Cristobal, Venezuela, May 29, 2017. Carlos Eduardo Ramirez: "Security forces arrived to disperse demonstrators that already had burned two taxis and a bus, throwing tear gas and pellets and the demonstrators' response was to throw molotov cocktails and one of those petrol bombs reached a National Guard member, setting him and the motorbike on fire."
Reuters
A turbulent year in Venezuela Riot security forces detain a demonstrator during a rally against Venezuela's President Nicolas Maduro's government in Caracas, Venezuela, July 28, 2017. Rock-throwing Venezuelans braved tear gas and rainstorms, blocking streets in protest against a legislative super-body to be elected two days later that critics call an attempt by President Nicolas Maduro to create a dictatorship. Carlos Garcia Rawlins: "After many hours of very violent clashes between the demonstrators and security forces, the National Guard in an attempt to end the situation, suddenly advanced their line very quickly, even going beyond where I and other photographers were taking cover. All the protesters who did not react fast enough to leave the place were detained."
Reuters
A turbulent year in Venezuela Opposition lawmaker Carlos Paparoni is hit by jets of water during riots at a march to the state ombudsman's office in Caracas, Venezuela, May 29, 2017. A group of young Venezuelan lawmakers has risen to prominence on the violent front line of anti-government marches that have shaken the South American country for three months, bringing 75 deaths. On the streets daily leading demonstrators, pushing at security barricades and sometimes picking up teargas canisters to hurl back at police and soldiers, the energetic National Assembly members are heroes to many opposition supporters. Carlos Garcia Rawlins: "I remember clearly how instants after I spotted Paparoni standing in front of 'The Whale', the common name of the water cannon armoured cars, he was flying through the air due to the unstoppable power of the water, as if he was a feather. Fellow protesters had to drag him out of the place, because from where I was, he seemed to have been unconscious."
Reuters
A turbulent year in Venezuela Flames erupt as clashes break out while the Constituent Assembly election is being carried out in Caracas, Venezuela, July 30, 2017. Deadly protests rocked Venezuela as opposition voters boycotted an election for a constitutional super-body that unpopular leftist President Nicolas Maduro vowed would begin a 'new era of combat' in the crisis-stricken nation. Carlos Garcia Rawlins: "Suddenly, a bomb exploded in the capital during an opposition protest and wounded seven police officers in what seemed to be the spread of more aggressive tactics. We were taking photos from close by but the police panicked and chased everyone away, firing teargas, rubber bullets and pellets."
Reuters
A turbulent year in Venezuela An injured opposition supporter is helped by volunteer members of a primary care response team during clashes with riot security forces at a rally against Venezuelan President Nicolas Maduro's government in Caracas, Venezuela, June 22, 2017. Ivan Alvarado: "This image was taken next to an airforce base where another protestor was fatally injured that day. I don't know how this man was injured, I first saw him as the first aid volunteers carried him out from the midst of the tear gas. You can really see the pain in his expression as he cries out. After I took the image the motorbike speeded off down the highway."
Reuters
A turbulent year in Venezuela A demonstrator shouts slogans in front of police officers during a women's march to protest against President Nicolas Maduro's government in Caracas, Venezuela
Reuters
Mr Maduro said the government would still provide “direct subsidies” to citizens holding the “fatherland card,” a state-issued identification card that the government uses to provide bonuses and track use of social services .
He said the subsidy was only available to those who registered their cars in a vehicle census being conducted by the state.
Reuters
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