Libya has continued to hold its position as the African country with the lowest petrol pump price, with the cost of octane-95 gasoline (petrol) set at just 0.15 Libyan Dinar per litre, according to Global Petrol Prices.
The amount is equivalent to approximately $0.032 or N52, as of September 16, 2024.
The latest data by the Global Petrol Prices, a platform that tracks fuel prices across various countries, highlighted the disparity in petrol costs across the continent, with Libya offering the most affordable fuel. In contrast, petrol prices in Egypt, Algeria, and Angola are significantly higher, standing at $0.279, $0.342, and $0.351 per litre, respectively.
Meanwhile, the pump price of petrol in Nigeria has skyrocketed, with the average price reaching N1,000 per litre, and black market prices soaring to as high as N1,600 per litre. Despite being one of Africa’s largest oil producers, Nigeria’s petrol prices are among the highest in the region, a development that has sparked widespread criticism and calls for government intervention.
The Central African Republic holds the highest petrol price on the continent, with fuel costing $1.83 per litre, while Senegal ($1.646), Seychelles ($1.595), Zimbabwe ($1.590), Morocco ($1.527), and Uganda ($1.475) also report high fuel costs. Other countries with steep petrol prices include Malawi ($1.458), Côte d’Ivoire ($1.455), Kenya ($1.453), and Sierra Leone ($1.448).
Nigerians continue to express frustration over the country’s high fuel prices, particularly after the removal of fuel subsidies.
