Gasoline Prices in Venezuela remained unchanged at 0.01 USD/100Liters in April from 0.01 USD/100Liters in March of 2020. Most drivers would gladly pay the true price of gas if the government would use the proceeds to invest in services, she said.
Venezuela has dirt-cheap fuel, so why is driving nearly impossible? Venezuela's inflation rate has hit a new high with consumer prices in the crisis-ridden country rising by more than 40,000 per cent annually for the first time on record, according a top economist.
OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has 40 per cent stake in Venezuela's San Cristobal field, which produces around 18,000 barrels of oil per day. Venezuela's inflation rate is already the highest in the world but is set for a new record. This page provides the latest reported value for - Venezuela Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. A family stands next to their car out of use due to the lack of spare parts in Maracaibo, Venezuela.
Because of inflation and devaluation of the currency, that has plunged even further. Caracas resident Maria Perez filled up one day recently, handing the attendant the equivalent of one penny, the smallest bill she had.
Venezuela’s real gross domestic product is expected to drop by 18 percent this year, which would be the third consecutive year of GDP plunging by double digits, “driven by a significant drop in oil production and widespread micro-level distortions on top of large macroeconomic imbalances,” Werner said. How Venezuela Struck It Poor ... to track inflation ... and rejuvenate shrinking reservoirs with injections of water or gas. Cash-strapped Venezuela has stopped payments of oil dues to ONGC Videsh Ltd(OVL), leading to a $450 million pile-up, its MD & CEO Narendra K Verma said.