Top 10 African countries with the lowest diesel prices
Many sectors are affected by diesel prices, such as farming. Here are the top 10 countries in Africa with the lowest diesel prices.
Diesel prices impact many sectors in Africa, such as transportation, farming, and general living costs. This situation is especially relevant for African nations that haven’t explored alternative energy options. Here are the top 10 African countries with the lowest diesel prices.
Impact of diesel prices
When an economy depends heavily on diesel and lacks alternative energy options, high diesel prices can lead to financial strain, as reported by Business Insider Africa. However, if this challenge is tackled, it can provide economic relief throughout the market, helping to keep living costs manageable.
Road freight companies rely on both petrol and diesel, but diesel is the primary fuel for most of their operations. When fuel prices rise, these companies often have to raise their prices to keep up with the higher cost of diesel. While this might seem straightforward, some transporters may struggle to increase their rates due to contracts or because they risk losing customers. This could lead to difficulties in maintaining their business.
Top 10 African countries where diesel is the cheapest
Based on the most recent data from Global Petrol Prices, on the African continent, Libya is the country with the cheapest diesel.
Following are the top 10 African countries with the cheapest diesel indicating their rank on a global level:
| Rank in Africa | Country | Global rank |
| 1 | Libya | 3rd |
| 2 | Algeria | 4th |
| 3 | Angola | 5th |
| 4 | Egypt | 6th |
| 5 | Sudan | 18th |
| 6 | Tunisia | 21st |
| 7 | Ethiopia | 25th |
| 8 | Nigeria | 36th |
| 9 | Ghana | 42nd |
| 10 | Gabon | 47th |
What does the global picture look like?
As of August 19, 2024, the global average price for diesel is $1.24 per liter. However, prices vary greatly from one country to another. Typically, wealthier nations tend to have higher diesel prices, while poorer countries and those that produce and export oil usually enjoy much lower prices.
The variation in diesel prices between countries comes from the different taxes and subsidies each country has. While all countries can access the same international petroleum prices, they choose to apply different tax rates. This leads to the retail price of diesel being different in each country.
Are you surprised by the countries on the top 10?
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