Fuel costs have a significant impact on every country’s economic environment and several African countries sell fuel well below the global average of $1.33.
The cost of fuel affects not just the transportation industry, but also other industries and, ultimately, residents’ everyday life. While price variations are unavoidable, the significance of maintaining low gasoline costs cannot be emphasized.
Following both domestic and international socio-economic complications, most of Africa has experienced inflations, particularly in food and energy prices.
Albeit to varying degrees, most African countries have been synonymous with rising costs of basic amenities in the last two years.
Factors such as the COVID-19 pandemic, and the Russia/Ukraine crisis, have created massive economic shocks that continue to ripple across Africa.
Even within the borders of Africa, issues such as domestic conflicts, coups, and climate change have affected the fluidity of the African economy.
With these complications, it is easy to see why African countries continue to struggle with rising fuel prices. In a region like Nigeria which already had its fair share of complications, newly elected president Bola Tinubu, implemented a reform that rid the country of its fuel subsidies, effectively causing fuel prices to skyrocket.
Hardly has any country experienced a decline in fuel cost since the year began, however, there are still African countries that boast fuel prices well below the $1.33 global average.
Below are the 10 African countries with the lowest fuel costs in November. This list is courtesy of GlobalPetrolPrices.
Top the 10 African countries with the lowest fuel costs in November
Rank | Country | Fuel price (liter/$) | Global rank |
---|---|---|---|
1. | Libya | $0.031 | 2nd |
2. | Algeria | $0.343 | 5th |
3. | Angola | $0.358 | 6th |
4. | Egypt | $0.404 | 7th |
5. | Nigeria | $0.764 | 21st |
6. | Tunisia | $0.813 | 25th |
7. | Gabon | $0.991 | 37th |
8. | Liberia | $1.024 | 39th |
9. | Ghana | $1.056 | 44th |
10. | Sudan | $1.062 | 46th |
The 10 African countries with the most expensive fuel:
10. Senegal
Petrol Price – $1.42
Diesel Price – $1.05
9. Zambia
Petrol Price – $1.47
Diesel Price – $1.51
8. Uganda
Petrol Price – $1.51
Diesel Price – $1.47
7. Lesotho
Petrol Price – $1.51
Diesel Price – $1.53
6. South Africa
Petrol Price – $1.49
Diesel Price – $1.56
5. Mauritius
Petrol Price – $1.65
Diesel Price – $1.21
4. Zimbabwe
Petrol Price – $1.62
Diesel Price – $1.65
3. Morocco
Petrol Price – $1.67
Diesel Price – $1.46
2. Cabo Verde
Petrol Price – $1.82
Diesel Price – $1.47
1. Seychelles
Petrol Price – $1.90
Diesel Price – $1.93