When it comes to fuel prices, Africa is often associated with high costs and affordability issues for its citizens.
However, there are some countries within the continent that have managed to keep their fuel prices relatively low. In this article, we will explore the top 10 countries in Africa with the lowest fuel prices, according to GlobalPetrolPrices.com.
1. Libya – Price per litre: $0.031
Libya takes the top spot with an astounding fuel price of just $0.031 per litre. This can be attributed to its vast oil reserves and government subsidies that aim to keep the cost of living affordable for its citizens.
2. Algeria – Price per litre: $0.338
Algeria follows closely behind Libya, with a fuel price of $0.338 per litre. Similar to Libya, Algeria has significant oil reserves, allowing the government to provide its citizens with affordable fuel.
3. Angola – Price per litre: $0.364
Angola, known for its oil production, ranks third on our list. With a fuel price of $0.364 per litre, the government ensures that its citizens have access to affordable fuel despite the fluctuations in global oil prices.
4. Egypt – Price per litre: $0.372
Egypt is not only famous for its historical wonders but also for its affordable fuel prices. With a cost of $0.372 per litre, Egypt manages to strike a balance between economic stability and accessibility for its citizens.
5. Tunisia – Price per litre: $0.372
Tunisia shares the same fuel price as Egypt, with $0.372 per litre. The government’s efforts to subsidise fuel costs contribute to the country’s affordability, benefiting its population and ensuring economic growth.
6. Nigeria – Price per litre: $0.822
Nigeria, often referred to as the giant of Africa due to its population and economy, surprises us with its relatively low fuel price of $0.822 per litre. Despite being an oil-rich nation, Nigeria faces challenges in refining its crude oil, which impacts its fuel price.
7. Liberia – Price per litre: $0.937
Liberia, a small country on the west coast of Africa, boasts a remarkably low fuel price of $0.937 per litre. Although it may not have significant oil reserves, Liberia manages to keep its fuel prices affordable through government subsidies.
8. Sudan – Price per litre: $0.992
Sudan, another African nation that heavily relies on oil production, offers its citizens access to fuel at $0.992 per litre. This relatively low price is partly thanks to government subsidies aimed at easing the burden on the population.
9. Gabon – Price per litre: $1.011
Gabon, a country located in Central Africa, provides its citizens with fuel at a price of $1.011 per litre. Despite being an oil-exporting country, Gabon’s fuel prices are slightly higher due to various factors such as infrastructure costs and distribution challenges.
10. Botswana – Price per litre: $1.073
Lastly, Botswana rounds up our list with a fuel price of $1.073 per litre. Known for its wildlife and natural beauty, Botswana manages to maintain relatively low fuel prices compared to other countries in the region, ensuring affordability for its population.
In conclusion, while some African countries struggle with high fuel prices, there are others that have managed to keep costs low for their citizens. This list highlights the top 10 countries in Africa with the lowest fuel prices, showcasing their efforts to balance economic stability and accessibility.
As fuel prices continue to fluctuate globally, these countries serve as examples of how governments can prioritise affordability and ensure the well-being of their citizens.