Petrol and Diesel Fuel Prices in South America

Petrol and Diesel Averages 2016 - 2022

South America consists of 12 states, Argentina, Bolivis, Brazil, Chile, Columbia, Ecuador, Guyana, Paraguay, Perus, Suriname, Uruguay and Venezuela.
 
The two countries in South America which produce the most oil are Venezuela and Brazil with Venzuela being the countrys biggest producer and producing more than Saudi Arabia.   It is not much of a surprise then to see the Worlds cheapest fuel to purchase is in Venezuela.

Although it is home to some of the largest reserves of oil it is a country with a very low income.  There have been several increases in the price of fuel since 2020 in Venezuela when a policy which had been in place for 10 years freezing the price of fuel was rolled back.  The policy had been put in place to guarantee fuel distribution and production in the country by the then President Nicola Maduro.