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Venezuela announces its first petrol price increase in 20 years, with President Nicolas Maduro stating that it will remain the cheapest in the world. Pump prices of premium fuel will rise from $0.01 to around $0.60 per liter, while lower-grade petrol will cost approximately $0.10 per liter. This adjustment, along with other measures, aims to address the country's economic crisis and save $800 million annually.
Wednesday, 17 February, 2016