The government has taken drastic steps to curb the price of gasoline, and it’s working to increase the amount of gasoline it can import from Venezuela, with its government-run monopoly, which controls the market.
But that means people are getting priced out of gasoline altogether.
What makes gasoline so expensive?
According to Bloomberg, the government is currently rationing supplies, restricting the amount it can buy, and increasing prices.
It’s a major reason Venezuelans have had to go to expensive stores and drive hours to find gas.
And that’s putting a price tag on what Venezuelans can afford.
A person who has to travel to a store, or to get gas, can only afford to pay $4.50 per liter of gas.
That means a person with a car that can get about 60 MPG in an average month would need to spend $1,200 to get their gas.
According to the government, they’re rationing the supply because it’s hurting their economy.
That’s why it’s taking such drastic measures.
“There’s an urgent need to increase production to meet our current production requirements,” President Nicolás Maduro told reporters in a televised speech.
But it’s not enough to get rid of the price gouging that Venezuelans are experiencing.
Venezuela is the world’s second-largest oil exporter, after Saudi Arabia.
And with a large share of its oil coming from oil fields in the south, Venezuela is facing a massive shortage of gasoline.
The country’s government has been rationing fuel supplies to address a shortage.
This week, Maduro declared a state of emergency in some regions of the country, which will force businesses to shut down.
Maduro says the government wants to solve the problem by importing gas.
“I am ordering the state to import more fuel,” Maduro said.
It isn’t clear if that’s actually going to happen, or if it’s just a symbolic step to try to appease the public.
It also seems unlikely that the government will be able to make much of a dent in the price, given the amount the government has already taken from the market to fix its problems.
This chart from Bloomberg shows the current market price for gasoline.
It looks like gasoline has been a bit more expensive than it used to be.
In the past, prices went up or down based on supply and demand.
But with the government’s rationing, it’s very likely that prices will continue to go up.
In fact, there’s some evidence that they could go up even more.
This is from Bloomberg’s recent report, “Price Surge.”
It’s also worth noting that prices in Venezuela are often much higher than they were a few months ago.
In a few weeks, Venezuelans could have to pay over $1 per gallon.