Caracas, Venezuela — Venezuelan state oil company PDVSA is preparing to increase fuel prices in the domestic market in September after two decades of frozen rates and millions of dollars lost in subsidies and smuggling. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Venezuelan President Nicolas Maduro announced last weekend he has given PDVSA the green light to bring the price of gasoline to international levels. Daily consumption is estimated at 190,000 b/d, of which 83,000 b/d are imported, according to official figures seen by S&P Global Platts. There are still no details of the exact date on which the price increase will take effect. Maduro has not said which international price would be used as a benchmark, or indicated whether other refined products such as diesel will have new prices as well. There is no guarantee that the increase in gasoline prices will reduce […]