Feb 20

Gas in Venezuela Rises to 15 Cents a Gallon


Socialist Venezuela has the cheapest gasoline on earth. See here.

But the socialist government has controlled and manipulated prices so extensively that the “real” price of gasoline is unknowable, and may be almost nothing.

The hilarious LA Times article describes how the socialist, mob-ruled country is plummeting in economic health due to the government’s central planning. The public rioted so severely during past government-imposed price increases that the Venezuelan government has kept gasoline at the same price since 1994! Now the government has finally decided to raise the price of gasoline from less than a penny a gallon to 15 cents.

Meanwhile, inflation is estimated to be 190 percent per year.

The Venezuelan economy actually shrank 5.7 percent per year.