Gasoline Prices in Venezuela remained unchanged at 0.01 USD/Liter in May. 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 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: 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 May 12, 2025. That day, prices averaged 3.44 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 2 U.S. dollars per liter.

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.

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.

Venezuela: Gasoline prices at the pump, in dollars per liter: Pour cet indicateur, The German Agency for International Cooperation fournit des données pour la Venezuela de 1995 à 2016. La valeur moyenne pour Venezuela pendant cette période était de 0.04 dollars avec un minimum de 0 dollars en 2016 et un maximum de 0.14 dollars en 1998.

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.

The 2025 annual OPEC oil price stood at ***** U.S. dollars per barrel, as of May. This would be lower than the 2024 average, which amounted to ***** 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 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

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 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.

On June 16, 2025, the price of ultra-low sulfur unleaded petrol (gasoline) in the United Kingdom averaged 131.39 pence per liter. This compared to 137.54 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.

Venezuela VE: Natural Gas Rents: % of GDP data was reported at 0.315 % in 2014. This records a decrease from the previous number of 0.423 % for 2013. Venezuela VE: Natural Gas Rents: % of GDP data is updated yearly, averaging 0.328 % from Dec 1970 (Median) to 2014, with 45 observations. The data reached an all-time high of 0.668 % in 2006 and a record low of 0.000 % in 1973. Venezuela VE: Natural Gas Rents: % of GDP 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: Land Use, Protected Areas and National Wealth. Natural gas rents are the difference between the value of natural gas production at regional prices and total costs of production.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

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.

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.

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

Hong Kong has some of the highest diesel prices in the world. As of May 12, 2025, drivers in Hong Kong paid an average of 3.34 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.