Chavez plans to keep Venezuelan gasoline among world's cheapest

CARACAS (VENEZUELA): President Hugo Chavez says Venezuela has no plans to raise state-subsidized gasoline prices anytime soon.

Gasoline is cheaper in Venezuela than almost anywhere in the world, selling for as little as 12 cents a gallon (3 cents a liter).

Chavez on Friday pledged to maintain fuel subsidies as a matter of ``sovereignty'' for the oil-producing nation.

Gasoline prices haven't changed there for years, and many Venezuelans consider cheap gas a birthright. Hours-long traffic jams clog cities including Caracas, where fuel-guzzling sport-utility vehicles are common.