Fuel Prices Venezuela
Part of: GIZ International Fuel Price database
Also see: Venezuela Energy Situation
Fuel Pricing Policies
| Local Currency: | VEF |
| Exchange Rate: | 4.2897
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| Last Update: |
"Fuel prices are subsidized and controlled by government, and have been frozen since 1999. Fuel prices along the border are set higher to discourage out-smuggling. Border filling stations sell fuels at much higher prices except those within the quota. Venezuela has been operating a regional program, PetroCaribe, since 2005. PetroCaribe has 18 members and 12 joint ventures. In Oct 2011, the president of Venezuela’s national oil company, PDVSA, reported that members received 92,000 bpd of oil and oil products." (Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
Fuel Prices and Trends
| Gasoline 95 Octane | Diesel | |
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| in USD* |
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| in Local Currency |
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* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil
Note: On 1 January 2008 a new bolivar, the bolívar fuerte (ISO 4217 code VEF), worth 1,000 VEB, was introduced.
Source: http://en.wikipedia.org/wiki/Venezuela#endnote_currencynone
Fuel Price Composition
Price composition for one litre of Gasoline 95 Octane as of 2010/11/01.
Source: http://www.eluniversal.com/2009/03/21/en_eco_esp_venezuela-increases_21A2263443.shtml
At a Glance
| Regulation-Price-Matrix |
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Sources to the Public
| Type of Information | Web-Link / Source |
|---|---|
| Other Information | http://www.claec.org (Latin American Commission of Fuel Companies) |
| Other Information | http://www.mem.gov.ve/ (Ministry of Energy and Mines) |
| Other Information | http://www.pdvsa.com (Petroleos de Venezuela Sociedad Anonima. PDVSA) |
Contact
Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices
