The rise in diesel costs affects a variety of businesses, including transportation, agriculture, and the total cost of living. This is especially true in countries that haven’t explored alternative energy sources. However, a developing country with low diesel price has by extension provided some economic relief for its citizens.
The economic, social, and environmental aspects of Africa all gain from cheap energy prices. Specifically, diesel prices can aid in the development of several African economies by reducing the cost of running a variety of industries, including the transportation, industrial, and agricultural sectors.
For a large number of African nations, especially those that have difficulty developing a conventional energy infrastructure, diesel fuel is an essential source of energy.
If the economy is largely dependent on diesel and there are few alternatives to diesel-powered engines, then the high cost of diesel could cause financial difficulties. But when these problems are resolved, there is some financial relief.
With that said, here are the 10 African countries with the lowest cost of diesel according to GlobalPetrolPrices. The list was last updated on the 22nd of July, 2024, when the average price of diesel globally was 1.25 U.S. Dollars per liter.
Liberia is the only country on the list with a diesel price higher than 1 USD. Diesel prices for Angola, Tunisia, Gabon, and Ghana increased from last month, while the prices for Nigeria and Liberia reduced. The Diesel price for every other country remained the same.
Top 10 African countries with the lowest cost of diesel in July 2024
| Rank | Country | Diesel cost | Global rank |
|---|---|---|---|
|
1. |
Libya |
$0.031 |
3rd |
|
2. |
Egypt |
$0.207 |
4th |
|
3. |
Algeria |
$0.216 |
5th |
|
4. |
Angola |
$0.229 |
6th |
|
5. |
Sudan |
$0.656 |
18th |
|
6. |
Tunisia |
$0.710 |
20th |
|
7. |
Nigeria |
$0.874 |
33rd |
|
8. |
Gabon |
$0.954 |
43rd |
|
9. |
Ghana |
$0.984 |
46th |
|
10. |
Liberia |
$1.027 |
57th |
Diesel prices for Angola, Tunisia, Gabon, and Ghana increased from last month, while the prices for Nigeria and Liberia reduced. The Diesel price for every other country remained the same.
