The Fernando de Peñalver Municipality, according to a 2007 population estimate by the National Institute of Statistics of Venezuela, has a population of 29,977 (up from 26,059 in 2000). This amounts to 2% of the state's population. The municipality's population density is 46.62 inhabitants per square kilometre (120.7/sq mi).
The mayor of the Fernando de Peñalver Municipality is Axel Rodriguez, elected on 23 November 2008 with 47% of the vote. He replaced Francisco José González shortly after the elections. The municipality is divided into three parishes; Capital Fernando de Peñalver, San Miguel, and Sucre.