Venezuelan gasoline station federation declares emergency, saying profits are unsustainable
The federation that groups gasoline station operators in Venezuela declared a state of emergency on Thursday, arguing that the income they receive from fuel sales is unsustainable, according to an internal document reviewed by Reuters and two sources in the sector. By Reuters The National Federation of Hydrocarbon Business Associations (FENEGAS) indicated in the letter addressed to its affiliates that the profitability of gasoline stations has plummeted and that many are on the verge of closing if there are no changes in the commercialization and distribution structure of fuels.