As of December 2024, fuel prices across Africa exhibit significant

îˆƒAs of December 2024, fuel prices across Africa exhibit significant disparities, influenced by factors such as government subsidies, local production capacities, and economic policies.îˆ„îˆ† îˆƒAccording to data from GlobalPetrolPrices, the following ten African countries offer the lowest petrol prices per liter:îˆ„îˆ†

Libya: îˆƒ$0.031 per literîˆ„îˆ†
Angola: îˆƒ$0.329 per literîˆ„îˆ†
Egypt: îˆƒ$0.335 per literîˆ„îˆ†
Algeria: îˆƒ$0.343 per literîˆ„îˆ†
Sudan: îˆƒ$0.700 per literîˆ„îˆ†
Ethiopia: îˆƒ$0.718 per literîˆ„îˆ†
Nigeria: îˆƒ$0.768 per literîˆ„îˆ†
Tunisia: îˆƒ$0.800 per literîˆ„îˆ†
Gabon: îˆƒ$0.952 per literîˆ„îˆ†
Ghana: îˆƒ$1.95 per literîˆ„îˆ†

îˆƒLibya leads with the continent's lowest petrol price, attributed to substantial government subsidies and its status as a major oil producer.îˆ„îˆ† îˆƒThese subsidies are designed to make fuel affordable for citizens, despite the economic challenges they may pose.îˆ„îˆ† îˆ€citeîˆ‚turn0search0îˆ

îˆƒAngola and Egypt follow, with prices of $0.329 and $0.335 per liter, respectively.îˆ„îˆ† îˆƒBoth nations benefit from significant oil production, enabling them to maintain lower fuel prices domestically.îˆ„îˆ† îˆƒIn Egypt, government policies aimed at stabilizing fuel costs contribute to these lower prices.îˆ„îˆ† îˆ€citeîˆ‚turn0search0îˆ

îˆƒAlgeria, another prominent oil producer, offers petrol at $0.343 per liter.îˆ„îˆ† îˆƒThe government's control over fuel pricing and subsidies ensures affordability for its population.îˆ„îˆ† îˆ€citeîˆ‚turn0search0îˆ

îˆƒSudan 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.îˆ„îˆ† îˆƒThese measures are crucial in supporting their economies and mitigating the impact of global oil price fluctuations.îˆ„îˆ† îˆ€citeîˆ‚turn0search0îˆ

îˆƒNigeria, at $0.768 per liter, has historically maintained low fuel prices through subsidies.îˆ„îˆ† îˆƒHowever, recent economic reforms and currency devaluation have led to adjustments in fuel pricing.îˆ„îˆ† îˆƒThe commissioning of the Dangote refinery is expected to influence future fuel prices by increasing local production capacity.îˆ„îˆ† îˆ€citeîˆ‚turn0news8îˆ

îˆƒTunisia 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.îˆ„îˆ† îˆƒThese strategies are aimed at supporting their economies and ensuring energy accessibility.îˆ„îˆ† îˆ€citeîˆ‚turn0search0îˆ

îˆƒGhana, despite being an oil producer, has the highest petrol price among the top ten, at $1.95 per liter.îˆ„îˆ† îˆƒThis is due to factors such as import costs, taxes, and currency exchange rates.îˆ„îˆ† îˆƒThe government is exploring options to reduce fuel prices, including potential imports from Nigeria's Dangote refinery once it reaches full capacity.îˆ„îˆ† îˆ€citeîˆ‚turn0news9îˆ

îˆƒIn summary, while oil production capacity plays a significant role in determining fuel prices, government policies, subsidies, and economic conditions are equally influential.îˆ„îˆ† îˆƒCountries like Libya and Angola leverage their oil resources to provide low-cost fuel, whereas nations like Ghana face challenges that result in higher prices.îˆ„îˆ† îˆƒUnderstanding these dynamics is essential for comprehending the economic landscape of fuel pricing across Africa.îˆ„

îˆ€navlistîˆ‚Recent Developments in African Fuel Marketsîˆ‚turn0news8,turn0news9îˆ

AS OF DECEMBER 2024, FUEL PRICES ACROSS AFRICA EXHIBIT SIGNIFICANT

Akudugu James