BAKU, Azerbaijan, July 23. Turkmenistan is considered one of the cheapest countries in terms of the cost of gasoline as of July 18, 2022, Trend reports with reference to the Global Petrol Prices (GPP) portal.
According to the portal, the cost of RON-95 brand gasoline in Turkmenistan is $0.42 per liter.
At the same time, the cheapest RON-95 brand gasoline is in Venezuela ($0.02 per liter) and the most expensive in Hong Kong ($3 per liter). In addition to Venezuela, the top 10 countries with the cheapest gasoline included Turkmenistan, Libya, Iran, Syria, Algeria, Angola, Kuwait, Kazakhstan and Nigeria.
Hong Kong, Monaco, Belize, Greece, Barbados, Finland, Norway, Israel, Iceland, and the Central African Republic are among the top ten countries with the most expensive gasoline.
Gasoline prices in countries are due to different types of fuel taxes and subsidies. So all countries buy oil on international markets at the same prices but charge different taxes. Therefore, the retail price of gasoline is different.