As of December 2024, fuel prices across Africa exhibit significant disparities, influenced by factors such as government subsidies, local production capacities, and economic policies. According to data from GlobalPetrolPrices, the following ten African countries offer the lowest petrol prices per liter:
Libya: $0.031 per liter
Angola: $0.329 per liter
Egypt: $0.335 per liter
Algeria: $0.343 per liter
Sudan: $0.700 per liter
Ethiopia: $0.718 per liter
Nigeria: $0.768 per liter
Tunisia: $0.800 per liter
Gabon: $0.952 per liter
Ghana: $1.95 per liter
Libya leads with the continent's lowest petrol price, attributed to substantial government subsidies and its status as a major oil producer. These subsidies are designed to make fuel affordable for citizens, despite the economic challenges they may pose. citeturn0search0
Angola and Egypt follow, with prices of $0.329 and $0.335 per liter, respectively. Both nations benefit from significant oil production, enabling them to maintain lower fuel prices domestically. In Egypt, government policies aimed at stabilizing fuel costs contribute to these lower prices. citeturn0search0
Algeria, another prominent oil producer, offers petrol at $0.343 per liter. The government's control over fuel pricing and subsidies ensures affordability for its population. citeturn0search0
Sudan and Ethiopia, with prices of $0.700 and $0.718 per liter respectively, have lower fuel costs due to government interventions and subsidies, despite not being major oil producers. These measures are crucial in supporting their economies and mitigating the impact of global oil price fluctuations. citeturn0search0
Nigeria, at $0.768 per liter, has historically maintained low fuel prices through subsidies. However, recent economic reforms and currency devaluation have led to adjustments in fuel pricing. The commissioning of the Dangote refinery is expected to influence future fuel prices by increasing local production capacity. citeturn0news8
Tunisia and Gabon, with prices of $0.800 and $0.952 per liter respectively, manage to keep fuel prices relatively low through subsidies and local production. These strategies are aimed at supporting their economies and ensuring energy accessibility. citeturn0search0
Ghana, despite being an oil producer, has the highest petrol price among the top ten, at $1.95 per liter. This is due to factors such as import costs, taxes, and currency exchange rates. The government is exploring options to reduce fuel prices, including potential imports from Nigeria's Dangote refinery once it reaches full capacity. citeturn0news9
In summary, while oil production capacity plays a significant role in determining fuel prices, government policies, subsidies, and economic conditions are equally influential. Countries like Libya and Angola leverage their oil resources to provide low-cost fuel, whereas nations like Ghana face challenges that result in higher prices. Understanding these dynamics is essential for comprehending the economic landscape of fuel pricing across Africa.
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disparities, influenced by factors such as government subsidies, local production capacities, and economic policies. According to data from GlobalPetrolPrices, the following ten African countries offer the lowest petrol prices per liter:
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