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| | {{Fuel Price Factsheet | | {{Fuel Price Factsheet |
| | |Fuel Price Country=Venezuela | | |Fuel Price Country=Venezuela |
| | + | |Fuel Pricing Policies="Fuel prices are subsidized and controlled by government, and have been frozen since 1999. Fuel prices along the border are set higher to discourage out-smuggling. Border filling stations sell fuels at much higher prices except those within the quota. Venezuela has been operating a regional program, PetroCaribe, since 2005. PetroCaribe has 18 members and 12 joint ventures. In Oct 2011, the president of Venezuela’s national oil company, PDVSA, reported that members received 92,000 bpd of oil and oil products." (Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.) |
| | |Fuel Currency=VEF | | |Fuel Currency=VEF |
| | |Fuel Price Exchange Rate=4.2897 | | |Fuel Price Exchange Rate=4.2897 |
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| | |Fuel Price Composition Annotation=Source: http://www.eluniversal.com/2009/03/21/en_eco_esp_venezuela-increases_21A2263443.shtml | | |Fuel Price Composition Annotation=Source: http://www.eluniversal.com/2009/03/21/en_eco_esp_venezuela-increases_21A2263443.shtml |
| | |Fuel Price Composition 2=GIZ_IFP2012_Venezuela2.png | | |Fuel Price Composition 2=GIZ_IFP2012_Venezuela2.png |
| − | |Fuel Pricing Policies='''Agencies:'''
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| − | “Ministry of Energy- and Mines: Owing to its low production costs (indirect subsidy), it does not raise refinery prices to import parity. It does not use any control or monitoring mechanism for the full price of fuels in service stations since they are regulated.
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| − | Petroleos de Venezuela (PDVSA): It only publishes the current prices of oil products. For the month of September, two types of gasoline will be sold in Venezuela: 91 leaded octane and 95 unleaded octane, as part of a programme for improving quality- and rationalizing the consumption of this fuel, which is partly environmentally-friendly”
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| − | Source and further information: http://uneprisoe.org/Pricing/FuelPricingPolicies.pdf
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| | |Fuel Matrix Pricing Mechanism=1 | | |Fuel Matrix Pricing Mechanism=1 |
| | |Fuel Matrix Price Level=1 | | |Fuel Matrix Price Level=1 |
Revision as of 19:43, 8 February 2013
Part of: GIZ International Fuel Price database
Also see: Venezuela Energy Situation
Fuel Pricing Policies
| Local Currency:
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VEF
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| Exchange Rate:
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4.2897
(2010/11/17)
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| Last Update:
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"Fuel prices are subsidized and controlled by government, and have been frozen since 1999. Fuel prices along the border are set higher to discourage out-smuggling. Border filling stations sell fuels at much higher prices except those within the quota. Venezuela has been operating a regional program, PetroCaribe, since 2005. PetroCaribe has 18 members and 12 joint ventures. In Oct 2011, the president of Venezuela’s national oil company, PDVSA, reported that members received 92,000 bpd of oil and oil products." (Source: Kojima, Masami. (2013, forthcoming). “Petroleum product pricing and complementary policies:Experience of 65 developing countries since 2009.” Washington DC: World Bank.)
Fuel Prices and Trends
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Gasoline 95 Octane |
Diesel |
| in USD* |
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| in Local Currency |
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* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil
Note: On 1 January 2008 a new bolivar, the bolívar fuerte (ISO 4217 code VEF), worth 1,000 VEB, was introduced.
Source: http://en.wikipedia.org/wiki/Venezuela#endnote_currencynone
Fuel Price Composition
Price composition for one litre of Gasoline 95 Octane as of 2010/11/01.
Source: http://www.eluniversal.com/2009/03/21/en_eco_esp_venezuela-increases_21A2263443.shtml
At a Glance
| Regulation-Price-Matrix
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Transparency of
Price Composition
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Transparency of Pricing
Mechanism / Monitoring
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Sources to the Public
Contact
Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices
This is a living document. If you have any comments or suggestions, please feel free to contact us:
Armin.Wagner@giz.de
