Libya continues to be the African nation with the lowest petrol prices, with octane-95 gasoline priced at just 0.15 Libyan Dinar per litre, equivalent to approximately $0.032 or N52, according to data from Global Petrol Prices as of September 16, 2024. This starkly contrasts with the rising fuel prices in other countries across the continent.
In comparison, Egypt, Algeria, and Angola report significantly higher petrol costs at $0.279, $0.342, and $0.351 per litre, respectively. Meanwhile, Nigeria is experiencing a drastic rise in petrol prices, with averages reaching N1,000 per litre and black market rates climbing to N1,600 per litre. Despite being one of Africa’s largest oil producers, Nigeria’s petrol prices are among the highest in the region, prompting widespread criticism and calls for government action.
Globally, the petrol price landscape shows stark contrasts, with the Central African Republic recording the highest prices on the continent at $1.83 per litre. Other nations with steep costs include Senegal at $1.646, Seychelles at $1.595, and Zimbabwe at $1.590. In light of the recent removal of fuel subsidies in Nigeria, citizens have expressed their frustration over the escalating fuel prices and the burden it places on their daily lives.
