Gas Prices Increase in Venezuela

In an effort to get a hold on the economy in Venezuela, gas prices are set to rise by about 6,000%. This is the largest jump that the country has seen, but officials like Mr. Danilo Diaz Granados are hoping that with the added taxes and price, the country can get out of the hole that it is in financially. Nicolas Maduro is behind the decision to increase gas prices in such a significant amount. There hasn’t been an increase in 17 years, and some might find it a shock when they go to fill up at gas pumps. When gas prices increased in 1989, there were several riots that ensued as people didn’t want to pay the high prices. Nearly 3,000 people lost their lives in the riots. There is a hope that the same actions won’t take place, but with an increase that high, officials are prepared for the worst.