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Bloomberg
The few gasoline stations still open in Caracas are manned by armed soldiers, and those waiting to fill their vehicles in day-long lines are only security personnel and designated medical and food suppliers.
Under coronavirus quarantine like most of the world, Venezuelans are used to shortages after seven years of economic meltdown. But in the past few weeks, as US sanctions tighten with a vise-like grip, something unprecedented is occurring: the country with the world’s largest oil reserves and one of South America’s biggest refining facilities is nearly out of gasoline.
The ports haven’t received gasoline imports in more than five weeks, according to people familiar with the situation and ship-tracking data compiled by Bloomberg.
Small protests have broken out, raising the specter of a repeat of deadly unrest from
earlier years. International aid agencies say they can’t move around easily. And a black market is growing in the capital with gasoline now selling for $1.50 a litre ($5.67 a gallon).
Venezuela’s demand has now dropped to about 90,000 barrels a day of gasoline and diesel,
according to consultant Hernandez, down from a combined 350,000 barrels eight years ago.