Gas is going up. Chavez announced on Alo Presidente that it’s ridiculous that gas prices haven’t seen an increase in so many years. And he has a point: gas is about 4 cents a liter, the lowest on earth and less than half the price of second place (Nigeria, at around 10 cents). As of now, they’re talking about doubling the price… Could be trouble: the last time gas prices doubled it was February 1989, and it sparked off the epic Caracazo riots. But to be fair, the spark was actually the concomitant doubling of transport prices (the government ordered transport drivers not to pass on the entire increase, which was clearly ridiculous).

This time, in an attempt to brake inflation, Chavez has insisted that transport prices won’t increase, since cheaper gas will be available to taxi and bus drivers. Moreover, he has tried to pitch the idea by saying that it will hit the middle and upper classes harder, that the poorer ride the metro. Partly true, but partly wishful thinking (which the price increase will help to make reality).