by Staff Writers Caracas, Venezuela (UPI) Dec 20, 2013
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Venezuelan President Nicolas Maduro signaled he wants to raise gasoline prices, which are considered among the cheapest in the world at about 5 cents a gallon.
"Without a doubt there's a distortion that we need to correct," Maduro said Wednesday, in reference to the country's highly subsidized gasoline. His comments came during a rare meeting with opposition political leaders, the Wall Street Journal reports.
While the government should continue offering "special" prices for the domestic market, the president said, the subsidy "should be an advantage, not a disadvantage."
The gasoline subsidy costs Venezuela about $12.5 billion a year.
The president spoke of a "plan that should take us some three years for setting prices of …