Libya continues to offer the cheapest petrol in Africa, with the price of octane-95 gasoline (petrol) standing at 0.15 Libyan Dinar per litre, equivalent to approximately $0.032 or N52 as of September 16, 2024.
This is according to a report by Global Petrol Prices, a platform that tracks retail petrol prices across various countries. In comparison, petrol prices in Egypt, Algeria, and Angola stood at $0.279, $0.342, and $0.351 per litre, respectively. These are the only four countries in Africa that sell fuel at cheaper rates than Nigeria.
Meanwhile, the Central African Republic has the highest petrol price on the continent, at $1.83 per litre.
Senegal ($1.646), Seychelles ($1.595), Zimbabwe ($1.590), Morocco ($1.527), and Uganda ($1.475) are other countries with costlier fuel price per litre, while Malawi ($1.458), Côte d’Ivoire ($1.455), Kenya ($1.453), and Sierra Leone ($1.448) round up the list.
Despite being one of Africa’s largest oil producers, Nigeria faces criticism for its high petrol prices. Current data shows the average petrol price in Nigeria is N1,000 per litre, with black market rates soaring to N1,600 per litre.
