Turkmenistan has cheapest gasoline among Central Asian countries

  • Jan 11, 2019
  • Azernews

By Abdul Kerimkhanov

Analytical publication Global Petrol Prices (U.S.) has published a ranking of countries based on the prices for gasoline.

Turkmenistan is ahead of all the countries of Central Asia in the cheapness of gasoline. Kazakhstan ranked 10th with 48 cents per liter. Uzbekistan took the 18th place ($ 0.54 per liter), Kyrgyzstan -  the 23rd place ($ 0.67 per liter), while Tajikistan was not considered in the rating.

Of the 150 countries in the world for which experts monitor the prices of petroleum products weekly, the cheapest gasoline is sold in Venezuela. There, its average annual price was only one cent. Sudan is in the second place ($ 0.13), Iran is third ($ 0.29). Kuwait ($ 0.34), Algeria ($ 0.35) and Nigeria ($ 0.41) occupy the fourth, fifth and sixth places, respectively.

The highest gasoline price is in Hong Kong ($ 2.04 per liter), followed by Monaco - $ 1.98, Wallis and Futuna - $ 1.90, Norway - $ 1.85, Barbados - $ 1.80 per liter.

Gasoline is a fuel made from crude oil and other petroleum liquids. Gasoline is mainly used as an engine fuel for vehicles. Petroleum refineries and blending facilities produce motor gasoline for sale at retail gasoline fueling stations.

Three main grades of gasoline are sold at retail gasoline refueling stations: regular, midgrade and premium.

According to experts' forecasts, the demand for AI-95 gasoline and diesel fuel will double by 2030 in Turkmenistan. Therefore, a set of measures was developed to further increase the capacities of oil refineries in the cities of Turkmenbashi and Seydi.

Turkmenistan plans to raise the productivity of oil refinery industry to 20 million tons by 2020, 22 million tons by 2025 and 30 million tons by 2030.

Turkmenbashi Complex of Oil Refineries is the flagship of oil refineries industry of Turkmenistan. Today, the share of the complex accounts is a quarter of the volume of industrial products manufactured in the Central Asian country.

Turkmenistan, being rich with oil and gas resources, has opened about two hundred oil and gas fields so far. Potential hydrocarbon resources of the country amount to 71.2 billion tons of oil equivalent, of which 53 billion fall on the land, and 18.2 billion tons - on offshore areas.