Find out the country where with $1 you can buy 2,000 liters of gasoline!
by AllAutoExperts | 27 January, 2015
Venezuela is among the countries with the largest oil reserves in the world where one liter of gasoline costs $ 0.0005. The fuel prices have not been raised for 26 years and it seems that will not increase in the near future.
It has something to do with the state policy that fears population protests. On the other hand, being the country with the largest oil reserves in the world, Venezuela is the country that imports gasoline!
According to a Venezuelan economist, the country spent in 2012 about 7.2 billion US dollars on fuel imports. It seems that Venezuela is the kind of shoemaker without boots. State subsidies are to blame in this area and the result is obvious, the price of $ 0.0005 USD for 1 liter of gasoline comes from the account of losses of about 27 billion dollars annually.
