- Business Insider Africa presents the top 10 African countries with the lowest fuel prices in April 2024.
- This list is courtesy of GlobalPetrolPrices.
- GlobalPetrolPrices.com last updated the list on the 22nd of April 2024.
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Top 10 African countries with the lowest fuel prices in April 2024
It is almost impossible to overestimate the significance of low gasoline prices, especially in developing nations like many African countries. Low gasoline prices have an impact on many facets of a country's economy. They ensure that an economy can run efficiently while empowering businesses and consumers and influencing the market.
Top 10 African countries with the lowest fuel prices in April 2024
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In many African countries, high transportation costs can worsen deprivation by limiting access to basic products and services including food, healthcare, and education. Lower fuel costs can help to alleviate this issue by making transportation more cheap, especially for low-income persons and rural regions.
Affordable transportation improves access to job opportunities, markets, and social services, empowering underprivileged communities and helping to alleviate distress.
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Furthermore, businesses that rely heavily on transportation, such as manufacturing, logistics, and agriculture, may face higher operational expenses. This may result in decreased profit margins, particularly in regions that rely on power generators.
So to argue that gasoline prices in certain African nations are a key economic driver is an understatement.
With that said, here are the top 10 African countries with the lowest fuel prices in April 2024. This list is courtesy of GlobalPetrolPrices.com and was last updated on the 22nd of April 2024.
The average price of gasoline around the world currently is 1.34 U.S. Dollars per liter.
| Rank | Country | Fuel price | Global rank |
|---|---|---|---|
| 1. | Libya | $0.031 | 2nd |
| 2. | Egypt | $0.281 | 4th |
| 3. | Algeria | $0.342 | 6th |
| 4. | Angola | $0.359 | 8th |
| 5. | Nigeria | $0.549 | 13th |
| 6. | Sudan | $0.700 | 20th |
| 7. | Tunisia | $0.800 | 22nd |
| 8. | Liberia | $0.968 | 31st |
| 9. | Gabon | $0.968 | 32nd |
| 10. | Ghana | $1.051 | 40th |
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