Venezuela is testing a fuel price increase as it opens up the oil industry.

Venezuela has started to raise fuel prices at gas stations in Caracas in order to seek new sources of income, while also reopening its oil industry to foreign investments and increasing production. The state-owned oil company in Venezuela has begun to supply premium gasoline at some gas stations in the capital, with prices about double that of regular fuel. According to two sources, the initial expansion plan includes 10 gas stations that will only sell 97 octane gasoline in US dollars. This move highlights the government's efforts to attract foreign partners and create new sources of income amid policy changes to address the reshaping of Venezuela's energy industry by the United States.