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This was the first rise in petrol prices in 20 years and he also set in place a sharp devaluation of the currency which he said aimed to shore up the country's failing economy, hard hit by falling oil prices which make up 95% of foreign income. Prices at the pump in Venezuela jumped as much as 6,086% for 95 octane gasoline, from 0.097 bolivars ...
As of 2022, LIOC fillings stations offer a new fuel labelled as 'XtraPremium' Petrol which is marketed as 'Euro 3' standard petrol. Similarly 95 RON petrol is offered as 'XtraPremium' 95 Petrol. Sri Lanka adopted RON 100 Octane 100 from July 2024. It is the 8th country in the world to use RON 100. Sweden: 95 RON, 98 RON and E85 are widely ...
Automobile transport is encouraged by the fact that Venezuela has the lowest petrol prices in the world, at $0.18 per gallon ($0.05 per liter). [8] In some cases, petrol is less expensive than bottled water. [8] total: 96,155 km paved: 32,308 km unpaved: 63,847 km (1997 est.)
Venezuela's annual inflation rate settled at 189.8% last year, according to data from the central bank released on Friday, marking a slight easing of the still sky-high rate of rising consumer ...
In New Zealand, gasoline is unleaded, and most commonly available in 91 RON ("Regular") and 95 RON ("Premium"). 98 RON is available at selected BP ("Ultimate") and Mobil ("Synergy 8000") service stations instead of the standard 95 RON. 96 RON was replaced by 95 RON, and subsequently abolished in 2006.
The recovery of oil prices in the early 2000s gave Venezuela oil funds not seen since the 1980s. [2] A destabilized economy led to a crisis in Bolivarian Venezuela, resulting in hyperinflation, an economic depression, shortages of basic goods and drastic increases in poverty, disease, child mortality, malnutrition, and crime. [3] [4]
Petróleos de Venezuela, S.A. (acronym PDVSA, Spanish pronunciation: [peðeˈβesa]) (English: Petroleum of Venezuela) is the Venezuelan state-owned oil and natural gas company. It has activities in exploration, production, refining and exporting oil as well as exploration and production of natural gas.
With the 2007 rise in oil prices and rising government expenditures, Venezuela's economy grew by 9% in 2007. Oil prices fell starting in July 2008, resulting in a major loss of income. Hit by a global recession, the economy contracted by 2% in the second quarter of 2009, [ 192 ] contracting a further 4.5% in the third quarter of 2009.