Hard hit by a currency crunch amid skyrocketing hyperinflation, Venezuela will raise the price of the gasoline in the coming months, President Nicolas Maduro has said, unveiling a new payment system to combat smuggling in what would be the first significant gas price hike in 20 years. Maduro said that Venezuela starts, effective Tuesday, a 15-day test stage for a new system at eight border states to ensure subsidies to the families and to fight smuggling. “During the course of September, October, once that system is working, we will establish the subsidy systems and the price of gasoline will be set at the international price,” Reuters quoted Maduro as saying in a televised address on Monday. Venezuela, the holder of the world’s largest oil reserves, has the cheapest gasoline price in the world, generously subsidized by the socialist regime. Last month, Maduro promised a new policy on gasoline pricing […]