Difference between revisions of "Fuel Prices Venezuela"

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{{Fuel Price Factsheet
 
{{Fuel Price Factsheet
 
|Fuel Price Country=Venezuela
 
|Fuel Price Country=Venezuela
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|Fuel Pricing Policies="Pricing policy: Fuel prices are subsidized and controlled by government. Earlier attempts to reform price subsidies were not successful. Since 1996, government has frozen prices, while the official exchange rate has depreciated to one tenth of its value in 1996while the rate on the black market is more than four times the official rate, signaling a very large reduction in fuel prices in real terms. 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.
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Protests: The protests against the sweeping economic reforms in 1989 turned especially violent. The demonstrations started in part in response to a substantial increase in public transportation costs following elimination of fuel price subsidies. The official figure is 276 killed in the aftermath of police and army intervention, but some observers have cited thousands.
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PetroCaribe: 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 crude oil and petroleum products."
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(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
 
|Fuel Price Exchange Rate Date=2010/11/17
 
|Fuel Price Exchange Rate Date=2010/11/17
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|Fuel Price Last Updated=
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|Fuel Price Graph Annotation=Note: On 1 January 2008 a new bolivar, the bolívar fuerte (ISO 4217 code VEF), worth 1,000 VEB, was introduced.
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|Fuel Price Graph Annotation=
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Source: http://en.wikipedia.org/wiki/Venezuela#endnote_currencynone
 
|Fuel Price Composition=GIZ_IFP2012_Venezuela1.png
 
|Fuel Price Composition=GIZ_IFP2012_Venezuela1.png
 
|Fuel Price Composition Fuel Type=Gasoline 95 Octane
 
|Fuel Price Composition Fuel Type=Gasoline 95 Octane
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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
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|Fuel Pricing Policies=Agencies:
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|Fuel Matrix Pricing Mechanism=1
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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
 
 
|Fuel Matrix Price Level=1
 
|Fuel Matrix Price Level=1
−
|Fuel Matrix Pricing Mechanism=1
 
 
|Fuel Transparency Price Composition=1
 
|Fuel Transparency Price Composition=1
 
|Fuel Transparency Pricing Mechanism=1
 
|Fuel Transparency Pricing Mechanism=1
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|Fuel Price Factsheet Source Annotation=Petroleos de Venezuela Sociedad Anonima. PDVSA
 
|Fuel Price Factsheet Source Annotation=Petroleos de Venezuela Sociedad Anonima. PDVSA
 
}}
 
}}
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[[Category:Venezuela]]

Latest revision as of 13:46, 13 October 2014

Part of: GIZ International Fuel Price database
Also see: Venezuela Energy Situation

Fuel Pricing Policies

Local Currency: VEF
Exchange Rate: 4.2897


(2010/11/17)

Last Update:

"Pricing policy: Fuel prices are subsidized and controlled by government. Earlier attempts to reform price subsidies were not successful. Since 1996, government has frozen prices, while the official exchange rate has depreciated to one tenth of its value in 1996while the rate on the black market is more than four times the official rate, signaling a very large reduction in fuel prices in real terms. 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.

Protests: The protests against the sweeping economic reforms in 1989 turned especially violent. The demonstrations started in part in response to a substantial increase in public transportation costs following elimination of fuel price subsidies. The official figure is 276 killed in the aftermath of police and army intervention, but some observers have cited thousands.

PetroCaribe: 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 crude oil and petroleum 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

Gasoline 95 Octane Diesel
in USD*

in Local Currency

* 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.


GIZ IFP2012 Venezuela1.png
GIZ IFP2012 Venezuela2.png


Source: http://www.eluniversal.com/2009/03/21/en_eco_esp_venezuela-increases_21A2263443.shtml



At a Glance

Regulation-Price-Matrix
Transparency of
Price Composition 		Transparency of Pricing
Mechanism / Monitoring
IFPDB matrix background.png
IFPDB matrix point.png
 IFPDB trafficlight red.png IFPDB trafficlight explanation.png IFPDB trafficlight red.png



Sources to the Public

Type of Information Web-Link / Source
Other Information http://www.claec.org (Latin American Commission of Fuel Companies)
Other Information http://www.mem.gov.ve/ (Ministry of Energy and Mines)
Other Information http://www.pdvsa.com (Petroleos de Venezuela Sociedad Anonima. PDVSA)


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

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