Car owners are being counted in Venezuela which is reeling under financial crisis. This calculation has started on Friday. The socialist government says that through this it will help in determining the correct use of fuel. But critics say that it will limit the supply of oil to the OPEC nations in crisis. Ironically, Venezuela is already facing a shortage of fuel although it has the worlds largest oil reserve . In the fifth year of recession, there has been a huge decline in refinery and oil production.
President Nicolás Maduro said that Venezuela requires the use of rationed fuel and it is possible only through calculation. A top party official has proposed to increase the price of highly subsidized fuel. This fuel is considered the cheapest fuel in the world.
The Venezuelan government has not given much information about the plans. Venezuela’s people are worried that the rationing of fuel would give rise to black market for fuel which would increase the prices further in the country reeling under hyper inflation.