Gasoline prices around the world

[karakoram]

Venezuela is selling almost for free why ?

 

[xyxmt]

sir , the fall in crude price is one aspect and domestic currency value against dollar is another point taken into consideration while calculating the price of crude in respective country , as in the case of india and pakistan , our real benefit was limited due weak rupee against the dollar in both countries

there is another aspect to it also, I compared historical gas prices in Canada with respect to Canadian exchange rate and back in 2002 we had the same dollar rate as today and oil prices were comparative to today's prices, back then gas was selling at .65/liter, today it is 0.95/liter....why??
another things is whenever oil went up so did everything from food to clothing and reason was higher transportation, today gas prices have come down yet everything staying the same.
point in case, dont count on prices going down as much and as fast as they went up.

 

[Taygibay]

Venezuela is selling almost for free why ?

Venezuela is the country with the most proven reserves on the planet, buddy; more than KSA.
Plus, they exchange less on trade markets than others overall and spend relatively wisely.
So huge output and controlled exportations leaves them literally waddling in the stuff.
If oil was expensive in Venezuela, it would be like the Indian governement taxing the playful
use of rain puddles by kids during monsoon!

That simple! Good day, Tay.

 

[karakoram]

Venezuela is the country with the most proven reserves on the planet, buddy; more than KSA.
Plus, they exchange less on trade markets than others overall and spend relatively wisely.
So huge output and controlled exportations leaves them literally waddling in the stuff.
If oil was expensive in Venezuela, it would be like the Indian governement taxing the playful
use of puddles by kids during monsoon!

That simple! Good day, Tay.

thanks for the info

 

[Taygibay]

YVW my friend!

Tay.

 

[Hamartia Antidote]

Venezuela is the country with the most proven reserves on the planet, buddy; more than KSA.
Plus, they exchange less on trade markets than others overall and spend relatively wisely.
So huge output and controlled exportations leaves them literally waddling in the stuff.
If oil was expensive in Venezuela, it would be like the Indian governement taxing the playful
use of rain puddles by kids during monsoon!

That simple! Good day, Tay.

What?? You do realize Venezuela is in shambles. They squandered all the money they made during the oil boom and now the country is on the brink of chaos (food shortages etc).

The oil ihas been artificially low for a long time to help keep the masses happy and ensure a Chavez/Maduro dynasty in elections. However less than a month ago they lost big in some local elections.

Is A Venezuela Default Coming Soon?

One problem is people from nearby countries are crossing the border to buy it in bulk.

 

[Taygibay]

Oh! Yes! There was mismanagement but it is due to governance, not structural.

If a new bunch comes up with realistic goals, they can get there without making oil that much more pricey
thanks to capacity ... is what I meant.

A few centavos and better control of the illicit border trade you mentioned should do it.

Good day HA and thanks for the active thread BTW, Tay.

 

[Hamartia Antidote]

Oh! Yes! There was mismanagement but it is due to governance, not structural.

If a new bunch comes up with realistic goals, they can get there without making oil that much more price
thanks to capacity ... is what I meant.

A few centavos and better control of the illicit border trade you mentioned should do it.

Good day HA and thanks for the active thread BTW, Tay.

Maduro is going to get hanged when people see what he is doing.

Venezuela Is Selling Off Gold Reserves as Bond Payments Loom - Bloomberg Business

 

[Hamartia Antidote]

$1.88/Gallon ($0.50 litre)

 

[kaykay]

In India, it varies from 0.8 USD to 1 USD depending of state. Like in Goa its 53-54 rupees( ~0.8 USD)while in Gujarat its 60 rupees( 0.9 USD).

 

[Donald Trump]

I think I'll need to go to Pakistan to fill up!!