Chavez says Venezuela will not raise gas prices

Fri Jun 27, 2008 10:07 PM EDT
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CARACAS — President Hugo Chavez says Venezuela has no plans to raise state-subsidized gasoline prices anytime soon.

Gasoline is cheaper in Venezuela than almost anywhere in the world, selling for as little as 12 cents a gallon.

Chavez on Friday pledged to maintain fuel subsidies as a matter of "sovereignty" for the oil-producing nation.

Gasoline prices haven't changed there for years, and many Venezuelans consider cheap gas a birthright. Hours-long traffic jams clog cities including Caracas, where fuel-guzzling sport-utility vehicles are common.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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