Caracas Prices

« In Venezuela, prices are quite curious. One item here costs so little that it can only be a freebie. Can you guess what it is?

It’s gasoline, of course.

Venezuelan gasoline is the cheapest on the continent, on the planet, in fact, in the entire known universe. How much do you think it costs to fill up a full tank of that beauty in the photo?

Two years ago, a decision was made to raise gasoline prices by an astonishing 6000%. Not 20, nor even 100, but six thousand percent. Can you imagine how much it would cost per liter, considering that even after such a spike in price, Venezuelan gasoline remains THE cheapest in the world? Currently, a liter of 95 octane gasoline costs about $1.60. Yes, that's right. (Gas station attendants often get tipped more than they earn from the gasoline they pump.)

One more time: a 1.5-liter bottle of water is around $1-2, a pack of cookies 3-5, eggs (not in a carton, but individually) - about $0.50, and a hamburger combo meal at McDonald's runs 7-12. A regular pie will cost you around $0.50, and remember, a liter of gasoline is $1.60, not a thousand, just a simple $1.60. Don’t believe it? There are photos and videos from gas stations to prove it. »

« Field reports. Yesterday, the President of Venezuela announced the withdrawal of the 100 bolívar bill from circulation. As of today, it's the highest denomination (new notes will be introduced starting December 15). The Venezuelan denomination process is quick and ruthless. Citizens were given 72 hours to "get rid" of their 100 bolívar cash. They can deposit it in a bank account, exchange it for 50, 20, and 10 bolívar bills (which will soon also be withdrawn and turned into coins), or spend it. Since I don’t have a bank account, I opted for the last option. It wasn't too difficult, as I only had one pack left, 10,000 bolívars (about $2.50). It was enough for a haircut (1,800 bol.), one smoothie at a café (2,500 bol.), and six small chocolate bars made from real Venezuelan cocoa (5,100 bol.) that I’ll bring home as gifts. I kept the remaining bills as a memento of the fuerte bolívar. »

« The only safe place in Caracas is the Teleferico cabin, and that's only if you're alone in it. Or maybe with someone you trust. Coincidentally, it's also the only entertainment in this remarkable city. The ride costs a staggering €0.60. »