Gas prices dropping soon?

[LSchicago]

So,.......is that why our prices were so low??
Just like in Saudi Arabia?? They produce a ton of oil.

The bigger question is why in gas in Venezuela (edit: 8.3) cents per gallon? Bottom line, oil companies are greedy, and gas is WAY higher than the crude cost is. Oil companies are posting record profits, and they don't care about us. I know they lost lots of money when the demand for gas went to almost nothing in 2020, but I think they have recouped that more than 3 times now. Keep them prices dropping!

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[sk47]

Venezuela gasoline prices, 25-Jul-2022 | GlobalPetrolPrices.com



Venezuela Gasoline prices, litre, 25-Jul-2022

Venezuela Gasoline prices	Litre	Gallon
VEF	0.100	0.379
USD	0.022	0.083
EUR	0.022	0.083

"Venezuela: The price of octane-95 gasoline is 0.1 Venezuelan Bolivar per liter. For comparison, the average price of gasoline in the world for this period is 6.35 Venezuelan Bolivar. The chart below shows the price of gasoline in the country relative to other countries. Use the drop menu to see the prices in gallons."

"The subsidized price of 0.1 USD on the chart is for the first 120 liters a month only for people with a valid Fatherland Card. Purchases above 120 liters per month are charged at 0.50 USD per liter. Also, the price listed on this page is the official gasoline price. However, during times of fuel shortages in Venezuela, there is a black market for fuel with prices that can exceed substantially the average international price levels."



Hello; Have not done extensive searching nor research but found the above. I think the oil industry is owned/controlled directly by the government. Seems to get the lowest price must have a Fatherland Card for fuel subsidized by the government. That subsidized fuel price is capped at 120 liters a month. That is about 30 gallons a month. After the 30 gallons the price is about $2.00 USD per gallon. That is if it can be found. Apparently, there are shortages and fuel can be above international prices.

An even more illuminating aspect to life in Venezuela might be to look at the cost of common goods such as eggs and normal everyday stuff. If my memory serves inflation for things other than fuel is very high. Something about toilet paper costing too much to buy not long ago.

Might be worth a further look. I also may be mistaken from memory but seem to recall that country has a socialist type government for what that may be worth.

 

[sk47]

Venezuela Inflation Rate - July 2022 Data - 1973-2021 Historical - August Forecast (tradingeconomics.com)

Hello; looks like the inflation rate is down from over 200% to 167% as of last May. Seems gas may be to only thing not expensive. Do not think it is worth it to move there for cheaper gas.

 

[NFG19]

Venezuela Inflation Rate - July 2022 Data - 1973-2021 Historical - August Forecast (tradingeconomics.com)

Hello; looks like the inflation rate is down from over 200% to 167% as of last May. Seems gas may be to only thing not expensive. Do not think it is worth it to move there for cheaper gas.

Right I thought the value of their money collapsed?

 

[sk47]

Right I thought the value of their money collapsed?

Hello; at the risk of being wrong as i did not keep up closely here is what i think happened. They had a big oil deposit discovered which put them in as a player in the oil patch. They were also a socialist sort of government and started a bunch of social programs with their newfound wealth. Over time the scheme began to fail. Something like the expense of the programs was too much for times when sale of oil did not bring in enough to keep them going. Not sure exactly what broke the system. Maybe too many on the dole? Maybe too many programs or the expansion of existing programs. Maybe too much corruption at high levels? maybe too much national debt? maybe too much deficit spending?

Their main income was oil and a downturn somehow broke things. Reports were the inflation hit levels like the old Whymar (sp) Republic after WWI. We are suffering at an official reported 9.3% inflation. (likely higher real rate overall.)

If it becomes a main talking point such things can be looked up. I confess I do not follow how cheap gas in a country with a collapsed economy applies to fuel prices in places such as the USA. I also do not follow how cheap gas in Venezuela defines that big oil companies are greedy.

My take has been that blaming service stations and big oil companies might be a way to deflect blame from a more likely source. Russia was blamed for a time but we know gas prices were steadily going up for around 12 to 18 months before the Russian invasion started.

 

[K4fxd]

I think Ven was capitalist or mostly, then the system changed to socialist then it went communist.

At least that is what I remember hearing. I never gave it too much thought so I may be wrong and I have no real interest in searching it out.

 

[Stage_3]

 

[K4fxd]

It gets better and better. Want a rebate on your EV? Sign away right to sue over battery fire.

I wonder how long till home owners will need a rider for EV fires?

https://www.yahoo.com/autos/chevy-bolt-owners-opt-rebates-162800543.html

 

[NFG19]

Wow! Insurance premiums will be higher! Just like the utility bill! Will probably be more taxes and fees added on as well!

 

[Stage_3]

It gets better and better. Want a rebate on your EV? Sign away right to sue over battery fire.

I wonder how long till home owners will need a rider for EV fires?

https://www.yahoo.com/autos/chevy-bolt-owners-opt-rebates-162800543.html

Wow. What happens when these fires happen in people's garages??

Hard pass on the EV crap for me anyways. Never.

 

[Bikeman315]

Not sure why we keep beating the whole EV thing to death in a gas price thread so…….

Finally back under $4.00

 

[Inthehighdesert]

It could be that the current brain trust keeps stating the current fix to high gas price’s is to switch to ev’s.

Not sure why we keep beating the whole EV thing to death in a gas price thread so…….

Finally back under $4.00

 

[sk47]

It gets better and better. Want a rebate on your EV? Sign away right to sue over battery fire.

I wonder how long till home owners will need a rider for EV fires?

https://www.yahoo.com/autos/chevy-bolt-owners-opt-rebates-162800543.html

Hello; So, some paid a higher price back when and later the selling price was lowered by six grand. That sort of thing has happened to me after a purchase. It was just my bad luck.
Some questions arise. Does this imply the newer cars have the fire issue fixed? This is for cars already sold. So, do the newest cars have a waver clause?
This is very strange indeed.

 

[Bikeman315]

It could be that the current brain trust keeps stating the current fix to high gas price’s is to switch to ev’s.

Well I have to agree that statement came across all wrong and he knew it. Can’t afford $5 a gallon gas, go by a $50-70k EV. Yeah sure, makes goal sense.

But for the rest of us it’s good to see the drop in pricing. I do not care why, I do not want to lay blame or praise. I just want to fill up my tank for under $40.00 again.

 

[Inthehighdesert]

I am usually filling with diesel. It’s still just under $5/gallon here. I usually don’t even notice the price of unleaded. I did see it was 3.30ish however yesterday. That is much better.

Well I have to agree that statement came across all wrong and he knew it. Can’t afford $5 a gallon gas, go by a $50-70k EV. Yeah sure, makes goal sense.

But for the rest of us it’s good to see the drop in pricing. I do not care why, I do not want to lay blame or praise. I just want to fill up my tank for under $40.00 again.

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