Gasoline Prices in Venezuela remained unchanged at 0.01 USD/Liter in June. 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 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.

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.

In June 2025, the price of Merey crude oil – Venezuela’s reference export blend – averaged ***** U.S. dollars per barrel, down from ***** 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 *** 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 ******* 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.

Venezuela: Gasoline consumption, thousand barrels per day: The latest value from 2023 is 91.72 thousand barrels per day, an increase from 85.84 thousand barrels per day in 2022. In comparison, the world average is 139.36 thousand barrels per day, based on data from 190 countries. Historically, the average for Venezuela from 1980 to 2023 is 193.64 thousand barrels per day. The minimum value, 62.63 thousand barrels per day, was reached in 2021 while the maximum of 293 thousand barrels per day was recorded in 2012.

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.

Crude oil and refined petroleum products accounted for less than ** percent of Venezuela's total export value in 2022. The oil industry used to play a primary role in the country's trade market, however because of sanctions and political instability, the role of the oil industry decreased since then. The highest contribution of the period was reported in 2013, at nearly ** percent.

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.

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.

Crude Oil Production in Venezuela increased to 1066 BBL/D/1K in May from 1051 BBL/D/1K in April of 2025. This dataset provides the latest reported value for - Venezuela Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

This bar chart illustrates the value of imports of petroleum, petroleum products and related materials from Venezuela to the United Kingdom, annually between 2010 and 2014. In 2013, the value of petroleum, petroleum products and related materials imported from Venezuela reached *** million U.S. dollars.

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.

Venezuela: Gasoline production, thousand barrels per day: The latest value from 2014 is 276.58 thousand barrels per day, an increase from 236.48 thousand barrels per day in 2013. In comparison, the world average is 115.28 thousand barrels per day, based on data from 206 countries. Historically, the average for Venezuela from 1986 to 2014 is 315.86 thousand barrels per day. The minimum value, 227 thousand barrels per day, was reached in 1991 while the maximum of 434 thousand barrels per day was recorded in 1998.

In 2018, Venezuelan exports in the petroleum sector amounted to more than **** billion U.S. dollars, down from **** billion dollars a year earlier. In the period of consideration, Venezuela's petroleum industry exports peaked in 2012, at nearly ** billion dollars.

For the fourth consecutive year, Venezuela recorded growth in shipments abroad of petroleum bitumen, which increased by 16% to 41K tons in 2023.

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.