BREAKING NEWS

Bolivian president cancels gasoline price increase

By ASSOCIATED PRESS

JANUARY 1, 2011 06:22

LA PAZ, Bolivia — Bolivian President Evo Morales on Friday abruptly canceled a decree that sharply raised fuel prices, reacting to widespread protests.

Sunday's price hikes had caused a burst of street protests, many of them from groups that are core supporters of the leftist leader who took office five years ago as Bolivia's first indigenous president.

Morales said that he had listened to unions and social groups and decided "it is not the time" for the price rise.

The government announced Sunday that it was raising gasoline prices by 73 percent, to 92 cents a liter ($3.48 a gallon) for regular gasoline, up from 50 cents ($1.89).

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