Why is gas so cheap in Venezuela?

Why is gas so cheap in Venezuela?

Thanks to subsidies under socialist former President Hugo Chavez and his succesor and protege, Nicolas Maduro, gasoline sold by state oil company PDVSA – which has a legal monopoly on fuel sales – is essentially free in Venezuela.

How much is a US dollar worth in Venezuela?

VEF to USD Exchange Rates

US Dollar Venezuelan Bolívar
1 USD 248210 VEF
5 USD 1241050 VEF
10 USD 2482100 VEF
20 USD 4964200 VEF

How much is a gallon of gas in Japan?

Company Matches

Nation City Price in USD Regular/Gallon
Japan Tokyo $4.24
Czech Republic Prague $4.19
Romania Bucharest $4.09
Andorra $4.08

Is gas cheaper than water in Venezuela?

In Venezuela, gasoline is cheaper than water. Gas is heavily subsidized there – and hyperinflation has made the currency, the bolívar, worthless. So in dollar terms a bottle of water costs more in Venezuela than a tank of gas.

How much is a Big Mac in Venezuela?

In Caracas, this week, a Big Mac cost 145,000bolívars; in American cities, it cost an average of$5.28. Click to see full answer….How much is a Big Mac in Venezuela?

Food Price
Big Mac $3.99
Big Mac – Meal $5.99
2 Cheeseburgers $2.00
2 Cheeseburgers – Meal $4.89

How much are eggs in Venezuela?

It costs $150 to buy a dozen eggs in Venezuela right now. The International Monetary Fund has predicted that inflation in Venezuela will hit 720% this year. That might be an optimistic assessment, according to some local economic analysts, who expect the rate to reach as high as 1,200%.

Is Venezuela cheap or expensive?

Cost of living in Venezuela is, on average, 34.77% lower than in United States. Rent in Venezuela is, on average, 74.00% lower than in United States.

How much is 1 million bolivars?

Convert Venezuelan Bolivars (VES) to US Dollars (USD)

Convert To Explain
100 VES USD 100 Venezuelan Bolivars = 0.0000352980 US Dollars as of 5/11/2021
10,000 VES USD 10,000 Venezuelan Bolivars = 0.003530 US Dollars as of 5/11/2021
1,000,000 VES USD 1,000,000 Venezuelan Bolivars = 0.35298 US Dollars as of 5/11/2021

Why does Venezuela have no food?

Shortages in Venezuela of regulated food staples and basic necessities have been widespread following the enactment of price controls and other policies under the government of Hugo Chávez and exacerbated by the policy of withholding United States dollars from importers under the government of Nicolás Maduro.

Why is Venezuela so dangerous?

There is a high threat from violent crime and kidnapping throughout Venezuela, which has one of the highest murder rates in the world. Armed robbery, mugging, carjacking, and burglary are all common and are often accompanied by extreme levels of violence – do not resist an attacker.

What is the safest city in Venezuela?

The 2 safes cities of Venezuelans are Doral and Weston, one is West Miami Dade County FL and the other is in Southwest Broward County, FL. Thousands of Venezuelans live there.

Is Caracas the most dangerous city in the world?

Caracas, Venezuela – 100 homicides/100K In 2017, Caracas was named the most dangerous capital city in the world, and is still in the top three most crime-ridden cities on the planet with 100 murders in 100,000 people.

What country has the highest crime rates?

The countries with the ten highest crime rates in the world are:

  • Venezuela (84.36)
  • Papua New Guinea (80.04)
  • South Africa (77.29)
  • Afghanistan (76.97)
  • Honduras (76.65)
  • Trinidad and Tobago (72.43)
  • Brazil (68.31)
  • Guyana (68.15)

What is the safest country in the world to live in?


Which country has no crime?

5 Safest Countries

  1. Switzerland. Switzerland’s standing as the world’s safest (according to our data, anyway) is strengthened by this fact: It averaged just seven violent crimes per 100,000 people.
  2. Singapore.
  3. Spain.
  4. Japan.
  5. Cyprus.