Turkmenistan, a major oil producing country which had had the cheapest gasoline prices for a long period, increased gasoline prices by 60 percent on the first day of 2015.

Despite the globally declining trend of gasoline prices, Turkmenistan increased the price from TMT 0.62 ($0.21) per litre to TMT 1.00 ($0.35) for its nationals.

With the rising price per litre, Turkmen citizens will fuel a car with a 45 litre capacity for $15.75, up from $9.45.

During Saparmurat Türkmenbaşı's presidency, who was in office between 1991-2006, gasoline prices were $0.02 per liter.