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The Biggest Car Market Crash Of Our Lifetime - Car Prices Will Fall 50%The government pegged the value of the petro to the price of one barrel of Venezuelan oil - currently around $66 - and promised to back it with. One Petro is supposed to get you $60 or 3, sovereign bolivars. It's supposedly backed by oil barrels produced by the national oil company. Here, used cars increase in value and sell for more than new ones. A unique market logic has reversed the orthodoxy of car value declining.