Energy
Venezuela Raises Gas Price to $0.60 a Liter, Still Remarkably Low
Published:
Last Updated:
The Venezuelan government has raised gasoline prices to $0.60 per liter (in U.S. dollars). While the increase from $0.01 per liter may be back-breaking for drivers in the country, it is still next to nothing compared to most of the rest of the world.
According to Global Petroleum Prices, Europe’s gas prices are sky-high compared to much of the rest of the world. The price in Spain is $1.22 and in Germany $1.26. In Switzerland, $1.38; France, $1.39; and Sweden, $1.46. In the United Kingdom is it $1.47, while in Italy it is $1.55.
The highest price for gas though is $1.76 a gallon in Hong Kong.
Economists would argue that the price of gas is relative, because many of the nations with high prices also have populations with high incomes and standards of living. They would also argue that oil price decreases have helped the nations in Europe and Hong Kong.
Tell that to the drivers in Venezuela.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
