Raising Gas Prices in Venezuela

Venezuela is in the middle of an economic crisis. There have been limits placed on making international calls to try to save money. One of the recent efforts to try to fix the economy is to raise fuel prices. This isn’t a minor increase says expert David Osio. It is one that could lead to people staying at home as they aren’t able to afford the gas to put in their vehicles. Miguel Perez has recently been appointed as the economy czar. He has been tasked with looking into what could fix the economy. There is a possibility that the country could get loans from China and other countries, but according to Osio, with a lack of being able to pay anyone back, it makes it difficult for others to be able to trust Venezuela. If oil prices remain at a higher level for a short time, then it could make a dent in what is owed by the country and the value of the currency, which could get the country on a right path economically.

 

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