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President cancels fuel price rise

Bolivian President Evo Morales has cancelled a decree that sharply raised fuel prices, apparently reacting to widespread protests.

Mr Morales acted after a week in which demonstrators filled the streets of Bolivia's capital and other cities to protest a decree on Sunday that suddenly raised gasoline prices by 73%.

Diesel prices jumped by 83%. The cost of some other fuels nearly doubled.

Fuel prices had been frozen for six years and the government said it could no longer afford to subsidize them, especially since much is smuggled across the border to neighbouring countries.


From Belfast Telegraph