Top 10 African countries with the lowest fuel prices in July 2024

Reduced fuel costs in Africa give much-needed relief to economies already experiencing financial difficulties. In many African nations, fuel prices have a substantial impact on different facets of the economy, hence regulation is essential. Reduced energy costs directly help consumers and businesses, promoting stability and economic empowerment.

Outrageous transportation expenses can worsen poverty in many African countries by limiting access to necessities like food, medical care, and education. As a result, reduced fuel prices help to mitigate these problems.

Furthermore, businesses that rely significantly on transportation, such as those in manufacturing, logistics, and agriculture, may incur greater operating costs. This could result in lower profit margins, especially in locations where energy is provided by generators.

With that said, here are the 10 countries in Africa with the lowest fuel prices currently according to GlobalPetrolPrices.com.

The global average price for fuel is presently 1.32 U.S. dollars per liter, as opposed to 1.31 US dollars per liter last month.

Compared to last month’s prices, the fuel prices for Libya, Egypt and Sudan remained the same. Fuel prices for Nigeria, Algeria, Angola, Liberia reduced, while Tunisia, Gabon, and Ghana, saw a slight increase in fuel price.

Save Ghana, no country on this list has a fuel price above $1, and no country went above the global average price.