Oil-rich Venezuela experiencing fuel shortages

The gasoline shortage around the country has been made worse by an increase in fuel exports to foreign allies such as Cuba and Nicaragua.

Photo by: Reuters
Photo by: Reuters

People wait in line at a gas station in Caracas, Venezuela.

Updated Mar 27, 2017

The economic crisis in Venezuela has entered yet another desperate phase as the OPEC member country is now experiencing fuel shortages.

Waiting in long lines for scarce goods is a daily routine for Venezuelans, but now they are also queuing for fuel.

Venezuela has the world's largest oil reserves, and for years it has been selling its citizens the world's cheapest gasoline.

But the country mainly pumps an extra-heavy-grade oil that has to be mixed with lighter crude which is imported from abroad, in order to be refined.

Now international suppliers are holding back imports of this lighter crude because of unpaid debt. This has left gas stations in the capital Caracas and several other cities with no supplies.

TRT World’s Christine Pirovolakis has the story.