Economic crisis in Venezuela has entered yet another desperate phase as the OPEC member country is now experiencing fuel shortages.

Waiting in long lines for scarce goods is a daily routine for people of Venezuela but now they are also queuing for fuel supplies.

Venezuela has the world’s largest oil reserves and for years, it has been selling its citizens the world’s cheapest gasoline.

But the country mainly pumps an extra-heavy grade of oil that has to be mixed with lighter crude which is imported from abroad, in order to be refined.

Now international suppliers are holding back imports of this lighter crude because of unpaid debt. This has left gas stations in the capital Caracas and several other cities with no supplies.

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