Source: BUSINESS INSIDER AFRICA
Several African nations saw an increase in fuel prices over the last year. 2023 and by extension, the beginning of the new year presented major budgetary issues for most parts of Africa, including its largest economies. Food and energy prices, particularly fuel costs were among the most pressing issues.
Rising fuel costs have an immediate impact on transportation expenses, thereby exerting pressure on the prices of goods and services.
Consequently, this surge can fuel inflation as businesses transfer elevated operational costs to consumers. As a result, regulating energy prices has emerged as a paramount concern for numerous governments. Particularly in certain African nations where gasoline serves dual purposes in transportation and power generation.
Moreover, sectors heavily dependent on transportation, such as logistics, manufacturing, and agriculture, may encounter heightened operational expenses. This, in turn, may translate into diminished profit margins, potential workforce reductions, or heightened prices for their offering.
With that said, below are the top 10 African countries with the most expensive fuel prices at the start of 2024. This list is courtesy of GlobalPetrolPrices.com and was last updated on the 8th of January 2024.
This list was last updated by GlobalPetrolPrices.com on the 26th of February, 2024. The average price of gasoline around the world is 1.31 U.S. Dollars per liter.
10 African countries with the highest fuel prices in March, compared to January.
| Rank | Country | Fuel price (Current) | Global rank | Fuel price (January) | Global rank (January) |
|---|---|---|---|---|---|
| 1. | Central Africa Republic | $1.821 | 26th | $1.835 | 23rd |
| 2. | Zimbabwe | $1.640 | 40th | $1.550 | 47th |
| 3. | Senegal | $1.640 | 41st | $1.654 | 35th |
| 4. | Morocco | $1.536 | 49th | $1.561 | 46th |
| 5. | Seychelles | $1.530 | 50th | $1.602 | 42nd |
| 6. | Sierra Leone | $1.524 | 51st | $1.524 | 50th |
| 7. | Burundi | $1.518 | 53rd | $1.522 | 51st |
| 8. | Malawi | $1.503 | 54th | $1.503 | 53rd |
| 9. | Zambia | $1.474 | 58th | – | – |
| 10. | Ivory Coast | $1.450 | 63rd | $1.462 | 58th |
