Nigeria Not Listed Among African Countries With Highest Petrol Prices As New Top 10 Ranking Emerges
Rising fuel prices can also lead to higher operating expenses for transportation-dependent industries, including manufacturing, logistics, and agriculture
African countries are facing increasing oil import prices due to OPEC regulations. Estimates from OPEC indicate that government taxes are also contributing to the rising cost of petroleum.
A new report has identified the Central African Republic, Senegal, and several other nations as having the highest fuel costs across Africa. The global price of crude oil is a primary determinant of fuel prices. Consequently, due to OPEC regulations, supply disruptions, geopolitical events, and shifts in global demand, African countries are experiencing elevated oil import prices.
Furthermore, government taxes—particularly in major oil-consuming countries—are another factor contributing to the rise in petroleum costs. As a result, increased fuel prices largely impact sectors such as transportation, ultimately affecting everyday consumers.
Rising fuel prices can also lead to higher operating expenses for transportation-dependent industries, including manufacturing, logistics, and agriculture. These escalating costs can hinder economic growth by restricting investment, reducing consumer spending, and lowering productivity.
Currently, the average price of petrol worldwide is $1.27 per liter, down from $1.29 per liter the previous month. According to GlobalPetrolPrices.com, which last updated its index on October 14, 2024, the following ten African nations had the highest fuel costs in October 2024.
Central Africa Republic – $1.828
As of October 2024, consumers in the Central African Republic paid the highest price for gasoline in Africa. One liter of fuel cost, on average, $1.828 in the country.
Senegal – $1.654
Senegal is the second on the list of African countries with the highest petrol prices. For comparison, the average price of gasoline in the world for this period is $1.19 while that of Senegal is $1.654
Seychelles – $1.500
Seychelles is third on the list of African countries with the highest petrol prices. The average price of gasoline worldwide for this period is $1.19, compared to $1.500 in Seychelles.
Zimbabwe – $1.490
The next on the list is Zimbabwe. The current gasoline price in Zimbabwe is ZWD 1,490.00 per liter or $1.49 per liter and was updated on 21-Oct-2024. For comparison, the average price of gasoline in the world is USD 1.19 per liter.
Ivory Coast – $1.462
The current gasoline price in the Ivory Coast is XOF 875.00 per liter or $1.45 per liter and was updated on 21-Oct-2024 compared to the average price of gasoline in the world at USD 1.19 per liter.
Malawi – $1.458
The current gasoline price in Malawi is MWK 2,530.00 per liter or $1.46 per liter and was updated on 21-Oct-2024 compared to the average price of gasoline in the world at $1.19 per liter.
Mauritius – $1.430
The current gasoline price in Mauritius is MUR 66.20 per liter or $1.44 per liter and was updated on 21-Oct-2024 compared to the average price of gasoline in the world at $1.19 per liter.
Sierra Leone – $1.423
The current gasoline price in Sierra Leone is SLL 27,300.00 per liter or $1.39 per liter and was updated on 21-Oct-2024 compared to the average price of gasoline in the world at $1.19 per liter.
Burkina Faso – $1.420
The price of octane-95 gasoline is 800 CFA Franc (west) per liter. For comparison, the average price of gasoline in the world for this period is 763.72 CFA Franc (west).
Mali – $1.420
The current gasoline price in Burkina Faso is XOF 850.00 per liter or USD 1.41 per liter and was updated on 21-Oct-2024 compared to the average price of gasoline in the world at USD 1.19 per liter. More
