Gas Prices In Venezuela 10 Cents A Gallon: 'Inflation Will At Last Come To Affect Venezuelan Gas Prices' And What Are Prices In Other Countries?

Gas prices in Venezuela 10 cents a gallon, but as cheap as it is for the country in South America, it might hurt the country's economy.

The gas prices in Venezuela has been trending throughout the last few days, which has caused people to wonder why the prices are so low, but in the U.S. it goes for more than $3.50 a gallon.

With a weak economy, according to Phil Flynn of the Future magazine, the Gas prices in Venezuela might have to change.

"Thanks to government subsidies put in place by the late President Hugo Chavez, gas prices have been frozen for nearly 15 years," Flynn wrote. "The policy made Chavez extremely popular in Venezuela, but could collapse the country's economy in the wake of his death."

Chavez died from a massive heart attack while he was going through a two-year battle with cancer, which was reportedly in a bad stage at the time of his death in March.

"The harsh realities of inflation will at last come to affect Venezuelan gas prices, and though the country is a major oil exporter, the high spending rate of the Chavez regime left it strapped for cash," Flynn wrote. "Even before the onset of recent turmoil in the country, Turkey's fuel prices were punitive. The reason? A good chunk of the population pays no taxes at all, so increasing the fuel tax has become a way for the Turkish government to make up its budget deficit gap."

Saudi Arabians fill up their vehicles at 45 cents per gallon, and Kuwait motorists pay 81 cents a gallon. Egypt and Iran have $1.14 and $2.15 per gallon, respectively, according to MSN Auto.

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