Why is gas in Venezuela only .12 cents a gallon?

Question

Why is gas in Venezuela only .12 cents a gallon?

Answer 1

Many reasons:

- We're one of the top world oil producers

-Our oil industry is state owned and doesn't tax gas but they do subsidize it. It realy cost more than 12 cents to produce it.

-The price hasn't been adjusted for inflation and currency devaluation in almost a decade; our president doesn't dare to do it because in 1989, a gas price increase caused two days of civil unrest.

Answer 2

it's subsidized by the government

Answer 3

Because Venezuela have one of the most big oil reserve in the world and also because it's subsidised by the populist government of the country.