Turkmenistan is ranked eighth globally for its low gasoline prices, with a cost of $0.429 per litre. This statistic breaks a record among the Commonwealth of Independent States (CIS) and former Soviet republics. All petrol stations in Turkmenistan are under state ownership.
Global petrol prices indicate that the cheapest motor fuel from Turkmenistan's neighbouring countries can be found in Iran ($0.029), while the most expensive is in Uzbekistan ($0.931). One litre of petrol in Kyrgyzstan costs $0.727, and in Kazakhstan, it costs $0.453. Tajikistan is not included in this report.
The least expensive petrol globally is currently accessible in Iran, while the most costly is available in Hong Kong ($3,093). The mean petrol price internationally is $1.36.
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. As a result, the retail price of gasoline is different.
Credits: Eziz Boyarov
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