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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 ...
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]
Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [25] of natural resources and is not self-sufficient in most areas of agriculture. Exports accounted for 16.7% of GDP and petroleum products accounted for about 95% of those exports. [26]
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.)
The national average price for a gallon of gasoline is a little more than $4.72, according to AAA as of July 8. ... Get sweaters on sale for the whole family during Nordstrom's Half-Yearly Sale ...
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 ...
An oil spill, which appeared to originate from Venezuela's El Palito refinery several days ago, has contaminated a bay off the country's north-central coast in the Caribbean Sea, five sources told ...
As of 2006, Venezuela was one of the largest suppliers of oil to the United States, sending about 1.4 million barrels per day (220 × 10 ^ 3 m 3 /d) to the U.S. [3]. In October 2007, the Venezuelan government said its proven oil reserves was 100 billion barrels (16 × 10 ^ 9 m 3).