While many nations grapple with fluctuating fuel costs, some countries’ approach has been to subsidize fuel through government policies and tap into their abundant natural resources, maximizing their GOD’s given minerals.
A low fuel price has numerous benefits to any given nation’s economy. Low fuel prices translate into more affordable transportation for individuals and families. Commuting to work, school, or leisure activities becomes less financially burdensome, improving the overall quality of life for citizens.
In some parts of Africa, like Nigeria, fuel is also used to generate power via electricity generators, where the government’s provision of power supply is not sufficient.
With that said, a number of African countries, ten of which are on the list, sell petroleum at relatively low cost. Some of said countries sell lower than the world average, of $1.33 per liter.
Below are the ten African nations with the lowest fuel prices in the month of September, against their last month’s figures. The list is courtesy of GlobalPetrolPrices.com, a platform that updates fuel prices across the globe daily.
| Rank | Country | Fuel price/liter (September) | Global rank (September) | Fuel price/liter (August) | Global rank (August) |
|---|---|---|---|---|---|
1. | Libya | $0.031 | 3rd | $0.031 | 3rd |
2. | Algeria | $0.335 | 4th | $0.338 | 4th |
3. | Angola | $0.362 | 6th | $0.364 | 6th |
4. | Egypt | $0.372 | 7th | $0.372 | 7th |
5. | Tunisia | $0.806 | 21st | $0.817 | 23rd |
6. | Nigeria | $0.817 | 22nd | $0.822 | 24th |
7. | Liberia | $0.938 | 32nd | $0.937 | 31st |
8. | Gabon | $0.988 | 35th | $1.011 | 37th |
9. | Botswana | $1.061 | 43rd | $1.073 | 41st |
10. | Sudan | $1.062 | 44th | $0.992 | 35th |
