The retail price of regular gasoline in Venezuela has remained consistently low over the past two decades, never surpassing 0.1 U.S. dollars per liter. Meanwhile, the price of premium gasoline spiked in recent years, reaching some 0.5 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 VE: Pump Price for Gasoline: USD per Liter data was reported at 0.000 USD in 2016. This records a decrease from the previous number of 0.015 USD for 2014. Venezuela VE: Pump Price for Gasoline: USD per Liter data is updated yearly, averaging 0.030 USD from Dec 1995 (Median) to 2016, with 11 observations. The data reached an all-time high of 0.140 USD in 1998 and a record low of 0.000 USD in 2016. Venezuela VE: Pump Price for Gasoline: 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: Transportation. Fuel prices refer to the pump prices of the most widely sold grade of gasoline. 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.

The Venezuelan gas supply meter market skyrocketed to $448K in 2024, rising by 54% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a tangible expansion. As a result, consumption reached the peak level of $3.9M. From 2015 to 2024, the growth of the market remained at a lower figure.

0,00 (US$/litro) in 2016. Fuel prices refer to the pump prices of the most widely sold grade of gasoline. Prices have been converted from the local currency to U.S. dollars.

Hong Kong had the highest prices for premium gasoline (95-RON) on February 10, 2025. That day, prices averaged 3.39 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.

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.

The average for 2016 based on 19 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.

Los precios de la gasolina en Venezuela se mantuvieron sin cambios en 0.02 USD/litro en febrero. Los valores actuales, los datos históricos, las previsiones, estadísticas, gráficas y calendario económico - Venezuela - Precios de la gasolina.

As of May 2022, the price of one liter of gasoline in Nicaragua represented around 14 percent of the average daily income of individuals in the country, more than in any other Latin American country that year. On the other side of the spectrum, one liter of gasoline in Venezuela cost some 1.3 percent of the average daily income in the country. This can be contextualized as relating to the fact that Venezuela accounts for the largest share of global oil reserves.

The Venezuelan wood fuel market totaled $642M in 2024, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $699M in 2020; however, from 2021 to 2024, consumption failed to regain momentum.

On March 24, 2025, the price of ultra-low sulfur unleaded petrol (gasoline) in the United Kingdom averaged 135.61 pence per liter. This compared to 143.07 pence per liter for diesel. Diesel prices were consistently higher than petrol/gasoline prices throughout this period, although the margin varied. Reasons for such differences in pricing lie in the refining process and molecular makeup of the products, with diesel requiring more complex refining processes and being an overall heavier liquid. As motor fuel pricing in the UK is not regulated by a monitoring body, there may also be notable differences in prices between retailers and regions. Supermarkets provide lowest fuel prices in the UK In the UK, much of the motor fuel is sold through supermarkets. Large supermarkets, or hypermarkets, account for more than 40 percent of all motor fuel sales in the country. The reason for their popularity often lies in the fact that they offer lower average prices. In the last four years, regular petrol/gasoline sold at supermarkets was up to six pence per liter cheaper than the national average. How UK fuel prices compare to the rest of the world Tied as they are to crude oil prices, motor fuels are generally cheapest in major producing countries, such as Iran, Venezuela, and Russia. In Europe, costs of importing the raw or finished products, in addition to taxes and levies, may hike up pump prices significantly. The UK is often among the countries with the highest petrol/gasoline prices, alongside other large European car markets such as France and Germany.

The report covers Oil and Gas Companies in Venezuela and the market is segmented by Upstream, Midstream, and Downstream. The report offers the market size and demand forecasts for the Venezuela Oil and Gas Market in USD billion for all the above segments.

In 2023, approx. 5.3K units of gas and smoke analysers were imported into Venezuela; dropping by -40.7% compared with 2022 figures.

In February 2025, the price of Merey crude oil – Venezuela’s reference export blend – averaged 64.96 U.S. dollars per barrel, down from 66.86 U.S. dollars per barrel the previous month. Merey crude oil has been part of the OPEC basket since January 2009. A blend of extra-heavy crude oil from the Orinoco belt and lighter grades, Venezuela’s export oil is the heaviest component in the basket, and, in turn, has historically reported the lowest average price in the OPEC basket. The 2020's oil crisis Crude oil prices worldwide dropped dramatically in the first months of 2020, the result of an unprecedented decline in demand as lockdown measures were implemented globally in an attempt to limit the spread of the coronavirus pandemic. With storage facilities filling up, WTI crude oil reached a record negative price in the third week of April. Since then, prices have seen a mostly continual recovery. Following Russia's invasion of Ukraine at the end of February 2022, prices surged to levels last seen in 2008, with reference oil blends Brent, WTI, and OPEC basket averaging at more than 100 U.S. dollars per barrel in summer 2022. Venezuela’s struggling oil sector The global decline in prices brought upon by the pandemic was only the most recent blow to the South American country's oil industry. Despite holding the largest proved oil reserves in the world, Venezuela’s oil production has declined notably. In 2023, it averaged around 850,000 barrels per day, a third of the level registered a decade earlier. A political and economic crisis as well as resulting U.S. sanctions have led to a rise in oil stocks in the country, affecting both prices and production.

In 2023, overseas purchases of oil or petrol-filters for internal combustion engines decreased by -29.9% to 6.1M units for the first time since 2019, thus ending a three-year rising trend.

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

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Venezuela Consumer Price Index (CPI): Maracaibo: HS: Water, Garbage Collection, Electricity & Gas data was reported at 220.100 Dec2007=100 in May 2014. This records an increase from the previous number of 219.000 Dec2007=100 for Apr 2014. Venezuela Consumer Price Index (CPI): Maracaibo: HS: Water, Garbage Collection, Electricity & Gas data is updated monthly, averaging 105.700 Dec2007=100 from Jan 2008 (Median) to May 2014, with 77 observations. The data reached an all-time high of 220.100 Dec2007=100 in May 2014 and a record low of 99.700 Dec2007=100 in Jan 2008. Venezuela Consumer Price Index (CPI): Maracaibo: HS: Water, Garbage Collection, Electricity & Gas data remains active status in CEIC and is reported by Central Bank of Venezuela. The data is categorized under Global Database’s Venezuela – Table VE.I005: Consumer Price Index: Maracaibo: Dec2007=100.

In 2023, after three years of growth, there was significant decline in supplies from abroad of gas supply or production meters, when their volume decreased by -50.9% to 1.9K units.