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The only country in the world where you can buy 1 Liter of Petrol cheaper than Rs.1

The only country in the world where you can buy 1 Liter of Petrol cheaper than Rs.1
Caracas (HIT ), although we have very cheap petrol, but find a place where it is almost free.
In the South American country of Venezuela per liter of petrol costs about 5 bucks, which means you can buy 20 liters for 1 Rupee. Reported by Bloomberg TV that cost of petrol is 0.2 Cents per gallon, i-
e 20 pence a gallon (about 3.78 liters). More interestingly, this country has not increased the petrol prices in past two decades. Last time it was in 1989 the oil price increase and as a result, the government was faced intense public protest. Afterwards, no Government due to the fear of any kind of protests did not make any raise in the oil prices.



In the period of President Hugo Chavez, Public was subsidized heavily. Economists say that continuing the unrealistic and illogical subsidy has destroyed the economy of the country. Venezuela has a major surplus of its income from Oil export but due to the decrease in Oil prices in International market has badly effected to the economy of this country and after 2 decades government is considering to increase the Oil price there as well.

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  1. Nice and well written thank-you for shearing this information with us. Keep it up guy

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