I am interested in the extration of speed limit from Longitude and Latitude coordinate values. Is it possible to find speed limit attribute assigned to specific Open Street Map position and is there an available script/API?
I can only suggest unautomated way to achieve this.
You can import OSM database to QGIS via QuickOSM plugin: https://plugins.qgis.org/plugins/QuickOSM/
Import all features with key: highway. Than look for the maxspeed value. This value is usually empty, but you can guess a speed limit from highway tag value - eg. residential would mean 50 km/h. This table should help you: https://wiki.openstreetmap.org/wiki/Default_speed_limits - make a join with that table and you should get speed values for all lines.
As a final step - spatially join your points (coordinates) with OSM highways.
You can increase your receiver data rate during dynamic condition. From Receiver NMEA data, you will get your vehicle speed and compare with actual data. Then Plot that data in Google API.
The speed limits have the key=maxspeed and value=Speed in OSM and are displayed as lines ( https://wiki.openstreetmap.org/wiki/Map_Features ). After extracting all lines with the given key and value you could extract the points in R using the SpatialLinesMidPoints-function: