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Venzuela Petrol Price Increases Sixty Fold or 6000%

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Venzuela's President announced a currency devaluation and ramped up its petrol price for the first time in about 20 years on Wednesday in an attempt to shield the country's oil-dependent economy from collapse. President Nicolas Maduro announced that the pump price of premium gasoline would jump from just under 0.1 bolivars per litre to six bolivars ( 1.5 US cents to 95 cents ) - a 60-fold or 6000% increase from its current level, For more, we are joined online by...

Guest : Paolo Manzo
Position : Latin American Journalist and Analyst
18 Feb 2016 9AM English South Africa News

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