Diesel prices significantly impact many African countries, especially those that have not diversified their energy sources. Reasonably priced diesel is crucial for economic stability as it supports key sectors like manufacturing, transportation, and agriculture, which are fundamental drivers of growth.
Low diesel costs help reduce operational expenses in these industries, thereby boosting economic activity and providing financial relief to businesses and residents, especially in regions with lower purchasing power.
Despite global efforts towards cleaner energy, diesel remains a dominant fuel source in numerous African countries, particularly those struggling to establish robust infrastructure for alternative energy sources. Access to affordable diesel stabilises economies by keeping essential services and production activities running efficiently.
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According to data from GlobalPetrolPrices.com, the global average price of diesel was $1.19 per litre as of October 2024, down slightly from $1.21 in the previous month. In Africa, diesel prices also fluctuated, with countries like Algeria, Egypt, Tunisia, Ghana, and Gabon seeing marginal price decreases, while Angola, Ethiopia, and Nigeria experienced increases. Diesel prices in Libya and Sudan remained stable.
Here are the top 10 African countries with the lowest diesel prices as of October 2024:
1. Libya – $0.031 per litre (3rd globally)
2. Algeria – $0.217 per litre (4th globally)
3. Angola – $0.220 per litre (5th globally)
4. Egypt – $0.237 per litre (6th globally)
5. Sudan – $0.656 per litre (18th globally)
6. Tunisia – $0.720 per litre (24th globally)
7. Ethiopia – $0.744 per litre (25th globally)
8. Nigeria – $0.844 per litre (33rd globally)
9. Ghana – $0.893 per litre (41st globally)
10.Gabon – $0.955 per litre (52nd globally)
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These rankings highlight the significant variance in diesel prices across Africa, reflecting different levels of government subsidies, tax policies, and supply chain efficiencies in each country.
