Gasoline Prices in Venezuela remained unchanged at 0.01 USD/Liter in July. This dataset 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.

The retail price of regular gasoline in Venezuela has remained consistently low over the past two decades, never surpassing *** U.S. dollars per liter. Meanwhile, the price of premium gasoline spiked in recent years, reaching some *** U.S. dollars per liter in 2021 and 2022. This was the highest price for premium gasoline reported since 2016 and 2017, when Venezuela's president Nicolas Maduro raised gasoline retail prices in an effort to shore up the nation's finances. Nevertheless, Venezuela has some of the world's lowest gasoline prices thanks to its large domestic oil production.

Venezuela: Gasoline prices at the pump, in dollars per liter: The latest value from 2016 is 0 dollars, a decline from 0.01 dollars in 2014. In comparison, the world average is 0.98 dollars, based on data from 165 countries. Historically, the average for Venezuela from 1995 to 2016 is 0.04 dollars. The minimum value, 0 dollars, was reached in 2016 while the maximum of 0.14 dollars was recorded in 1998.

Venezuela VE: Pump Price for Diesel Fuel: USD per Liter data was reported at 0.008 USD in 2014. This records a decrease from the previous number of 0.011 USD for 2012. Venezuela VE: Pump Price for Diesel Fuel: USD per Liter data is updated yearly, averaging 0.015 USD from Dec 1995 (Median) to 2014, with 10 observations. The data reached an all-time high of 0.080 USD in 1998 and a record low of 0.008 USD in 2014. Venezuela VE: Pump Price for Diesel Fuel: USD per Liter data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank.WDI: Transportation. Fuel prices refer to the pump prices of the most widely sold grade of diesel fuel. Prices have been converted from the local currency to U.S. dollars.; ; German Agency for International Cooperation (GIZ).; Median;

The retail price of diesel fuel in Venezuela has been on a downward trend for most of the past two decades. After 2020, however, diesel prices in the South American country started rising and in 2022 one liter of diesel fuel was sold at 0.02 U.S. dollars. Nevertheless, Venezuela has some of the world's lowest diesel prices thanks to its large domestic oil production.

In 2024, the Venezuelan gas supply meter market was finally on the rise to reach $66K after seven years of decline. In general, consumption, however, continues to indicate a abrupt downturn. As a result, consumption attained the peak level of $5.2M. From 2015 to 2024, the growth of the market remained at a lower figure.

Hong Kong had the highest prices for premium gasoline (95-RON) on August 4, 2025. That day, prices averaged 3.58 U.S. dollars per liter, which was notably more than in any other country. While oil-rich countries enjoy some of the lowest gasoline prices, drivers in big car markets such as Europe pay around two U.S. dollars per liter.

Diesel fuel prices of Venezuela (Bolivarian Republic of) sank by 27.27% from 0.01 US dollars per liter in 2012 to 0.01 US dollars per liter in 2014. Since the 10.00% jump in 2010, diesel fuel prices plummeted by 27.27% in 2014. Fuel prices refer to the pump prices of the most widely sold grade of diesel fuel. Prices have been converted from the local currency to U.S. dollars.

This statistic shows the change in the price of gasoline per liter in selected countries for the period between June 2019 and June 2020. The price changes concern unleaded premium (95 RON) for France, Germany, Italy, Spain, and the United Kingdom, and regular unleaded for Canada, Japan, and the United States (AKI 87). RON stands for Research Octane Number, while AKI means Anti-Knock Index. Both represent the most common octane rating in the countries shown. In June 2020, the gasoline price per liter in the U.S. was 23.4 percent lower than it was in June 2019.

Influences on gasoline prices

The price of gasoline is a frequently discussed issue, and is a part of almost everybody’s life in developed countries. Gasoline prices worldwide are dependent of a number of factors: crude oil prices, costs for processing and distribution, demand, strength of currencies, taxation, and availability. The most influential factor is the crude oil price. This price includes the costs for exploration, extraction, and transport. What the consumer pays in the end is also an issue of national oil pricing policy. Typical regions with high taxes on gasoline are European countries and Japan. Other countries keep consumer prices low by subsidizing the costs for gasoline. Among latter countries are the United States, Saudi Arabia, Iran, Venezuela, Egypt, Malaysia, Bolivia, and others. There are many other factors, however, which directly influence the price of gasoline. Wars, crises, and natural disasters in oil producing regions, for example, can obstruct the production and transportation, and thus cause higher crude oil prices. Last but not least, the end-consumer defines the price through his or her demand. A higher number of people driving cars means higher prices for gasoline, which is often the case in the summer months or holiday seasons.

0.01 (US dollars per liter) in 2014. Fuel prices refer to the pump prices of the most widely sold grade of diesel fuel. Prices have been converted from the local currency to U.S. dollars.

Venezuela: Revenue minus production cost of natural gas, percent of GDP: The latest value from 2014 is 0.38 percent, a decline from 0.54 percent in 2013. In comparison, the world average is 0.54 percent, based on data from 186 countries. Historically, the average for Venezuela from 1970 to 2014 is 0.32 percent. The minimum value, 0.02 percent, was reached in 1970 while the maximum of 0.59 percent was recorded in 1990.

The average for 2016 based on 165 countries was 0.98 dollars. The highest value was in Eritrea: 2 dollars and the lowest value was in Venezuela: 0 dollars. The indicator is available from 1991 to 2016. Below is a chart for all countries where data are available.

0.01 (US dollars per liter) in 2014. Fuel prices refer to the pump prices of the most widely sold grade of diesel fuel. Prices have been converted from the local currency to U.S. dollars.

The average for 2016 based on 11 countries was 0.87 dollars. The highest value was in Uruguay: 1.5 dollars and the lowest value was in Venezuela: 0 dollars. The indicator is available from 1991 to 2016. Below is a chart for all countries where data are available.

Statistics illustrates consumption, production, prices, and trade of Gas Supply or Production Meters in Venezuela from Jan 2019 to Jul 2025.

The Venezuelan liquefied petroleum gas (LPG) market shrank to $401M in 2024, waning by -7.8% against the previous year. Overall, consumption showed a deep slump. Liquefied petroleum gas (LPG) consumption peaked at $2.5B in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

Hong Kong has some of the highest diesel prices in the world. As of August 4, 2025, drivers in Hong Kong paid an average of 3.49 U.S. dollars per liter of automotive diesel. This was more than three times the amount paid by drivers in Mainland China. Lower prices are often linked to substantial domestic crude oil production and government subsidies, as is the case in countries such as Venezuela, Iran, and the United States.

The Venezuelan oil and gas industry, while historically a significant global player, currently faces considerable challenges. The period from 2019 to 2024 witnessed a significant decline in production due to a combination of factors, including underinvestment, sanctions, operational inefficiencies, and political instability. This resulted in a contraction of the market size, impacting both domestic consumption and export capabilities. However, with the global energy transition and increasing demand, the potential for future growth remains, albeit contingent on substantial reforms. The forecast period (2025-2033) presents a mixed outlook. While the base year of 2025 reflects a lower market size than historical highs, a modest Compound Annual Growth Rate (CAGR) is projected, driven by potential increases in foreign investment, assuming a stabilization of the political and economic climate and the implementation of significant upgrades to aging infrastructure. This growth, however, is likely to be slower than global averages and heavily dependent on the resolution of ongoing challenges. Furthermore, diversification into gas production and exploration could contribute to a modest revival, especially if international collaboration is secured to modernize the sector.
The success of this recovery hinges on substantial policy changes, including transparency in resource management, attracting foreign investment through improved regulatory frameworks, and addressing infrastructure deficiencies. The industry needs to adapt to evolving global demands for cleaner energy and transition towards more sustainable practices. Despite the considerable hurdles, the long-term potential of Venezuela's vast oil and gas reserves cannot be disregarded. If the right conditions are established, targeted investments could unlock significant economic potential and reshape the industry's role in the global energy landscape. Recent developments include: In December 2022, the Venezuelan government and American oil company Chevron Corporation signed a contract to resume oil and gas operations in Caracas, Venezuela. This contract aims to continue with the production and development activities in the energy sector, framed within the constitution and the Venezuelan laws that govern oil activity in the country.. Notable trends are: Upstream Sector as a Prominent Market.

The Venezuelan wood fuel market contracted modestly to $625M in 2024, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Wood fuel consumption peaked at $716M in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

In 2023, overseas purchases of oil or petrol-filters for internal combustion engines decreased by -47.6% to 2.2M units for the first time since 2019, thus ending a three-year rising trend.