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Libya tops list as African fuel prices remain below $1 in the top 9 African nations
  • Libya maintains its position as the cheapest fuel market in Africa with just $0.028 per litre.
  • Nine out of ten countries have fuel prices under $1 per litre, signalling widespread affordability across much of the continent.
  • Nigeria, despite partial subsidy reforms, still ranks among the cheapest with fuel priced at $0.586 per litre.
  • DR Congo is the only country in the top 10 where fuel costs exceed $1 per litre, standing at $1.039.
  • Ethiopia and Liberia are the only non-oil-producing countries among Africa’s top 10 cheapest fuel markets.

Nigeria: The price of diesel has risen by 84% in 12 months
Rising fuel costs are impacting transportation prices of goods and services, straining household budgets and contributing to inflation. The average cost of petrol in Nigeria has increased by 25% since July 2023. Diesel prices have seen an even sharper increase of 85%, rising from a national average of ₦794 in July 2023 to ₦1,462 in June 2024.

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