Turkmenistan ranks eighth in the list of countries with the cheapest gasoline in the world (one litre costs $0.429).
Global petrol prices reports that as of July 31, car fuel from Turkmenistan's neighbouring countries is the cheapest in Iran ($0.029), the most expensive - in Uzbekistan ($0.961).
The cheapest petrol in the world is available in Venezuela ($0.004), and the most expensive - in Hong Kong ($3.059). The average price of petrol around the world is $1.33 per litre.
As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices. "One notable exception is the U.S. which is an economically advanced country but has low gas prices."
The differences in prices across countries are due to the various taxes and subsidies for gasoline. All countries have access to the same petroleum prices of international markets but then decide to impose different taxes, writes Global petrol prices.
Credits: Ezizi Boyarov
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