Iran, Libya, and Venezuela have the lowest gasoline prices globally. In Iran, one liter of gasoline costs just $0.02, while in Libya and Venezuela, it is priced at $0.03 per liter. These prices stand in stark contrast to the global average of $1.25 per liter.

On the higher end of the spectrum, Hong Kong leads with the most expensive gasoline at $3.30 per liter, followed by Monaco ($2.23) and Iceland ($2.19).

In Uzbekistan, the price of one liter of gasoline is $0.99, placing it in the global average price range. Among post-Soviet countries, Turkmenistan ($0.42), Kazakhstan ($0.49), and Russia ($0.57) offer the cheapest gasoline. Meanwhile, the highest prices in the region are found in Moldova ($1.25), Armenia ($1.33), and Ukraine ($1.38).

Experts from Global Petrol Prices explain that wealthier countries typically have higher gasoline prices, while poorer nations and major oil-producing and exporting countries enjoy lower prices. However, the United States is an exception, offering relatively low gasoline prices despite being an economically advanced nation.

The disparity in gasoline prices across countries is largely attributed to differences in taxes and subsidies. While all countries purchase oil at similar prices on the international market, their tax policies and subsidy structures significantly affect consumer costs.