In Venezuela, Talk of Raising Gas Prices For First Time Since 1996

[Zorro]

Imagine filling your car tank with gas for less than it costs to fill your tires with air.

Welcome to the craziest economy in the Western Hemisphere, Venezuela, where a huge fossil fuel windfall — and, critics claim, populist politics — has led to the cheapest gas on Earth.

At the official exchange rate of 6.30 bolivars to the dollar, a gallon of gas in the troubled South American nation costs around a nickel.

But the bolivar’s street value is only about one-tenth of the government rate, meaning that a gallon really costs Venezuelans less than a penny.

http://www.nbcnews.com/news/latino/venezuela-talk-raising-gas-prices-first-time-1996-n184721

[Skink]

1. Citgo 3.18

I like it.

[HooptieWagon]

2. I was there in '93 when they raised gas from 4¢ to 6¢/gal.

The national airline went on strike... not the employees... management. 'Course the cost of living there is ridiculously cheap in US dollars. Night out on rfhe town for 4 of us - dinner, about 2 dozen 8oz beers, and 2 hours on a pool table - $8. Total. Nice mansion...$35K. Anything imported was pricey, though... about a 50% import duty.