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Business Insider
a day ago
- Business
- Business Insider
Top 10 African countries with the lowest fuel prices in July 2025
In recent months, several portions of Africa have seen minor drops in gasoline costs, notably in areas benefiting from better supply networks, government initiatives, or indigenous refining breakthroughs. However, while low gasoline costs might provide short-term economic gains, they also have long-term consequences that governments must carefully manage. Low gasoline prices often result in decreased transportation and production expenses for both consumers and enterprises. Public transportation rates tend to fall, making commuting cheaper for employees and students. Farmers and small-scale merchants gain from lower logistical costs, which can help improve food distribution and stable market prices. Many African homes rely on fuel-powered generators owing to inconsistent electricity, and cheaper fuel reduces the cost of lighting, cooling, and even running small enterprises from home. Lower gasoline costs can help to keep inflation under control and promote consumer spending. Countries such as Kenya, Ghana, and South Africa have all experienced periods where lower fuel costs boosted economic activity. In Nigeria, recent price decreases at several depots, fueled by greater supply from the Dangote Refinery, have fueled optimism for broader market stability. The Dangote Refinery is very important to this tale. With a refining capacity of 650,000 barrels per day, it has begun to reshape petroleum distribution in West Africa. Its most recent step, the construction of 1.6 million barrels of storage capacity in Namibia, is intended to provide low-cost petroleum to Southern African nations such as Botswana, Zambia, and Zimbabwe. By processing African oil locally and selling the products regionally, the refinery is progressively reducing the continent's reliance on expensive imported refined goods. With that said, here are the 10 African countries with the lowest fuel prices in July, according to GlobalPetrolPrices. Compared to the top 10 list last month, fuel prices for Angola, Algeria, Nigeria, Ethiopia, and DRC reduced slightly, while prices for Egypt, Tunisia, and Liberia increased Fuel prices for Sudan and Libya remained the same. Top 10 African countries with the lowest fuel prices in July 2025 Rank Country Diesel prices Global rank 1. Libya $0.028 1st 2. Angola $0.327 4th 3. Algeria $0.353 6th 4. Egypt $0.385 7th 5. Nigeria $0.545 13th 6. Sudan $0.700 21st 7. Tunisia $0.871 33rd 8. Ethiopia $0.897 35th 9. Liberia $0.908 36th 10. DRC $1.036 47th
Business Insider
5 days ago
- Business
- Business Insider
Top 10 African countries with the lowest diesel prices in July 2025
The cost of diesel has long dominated the rhythm of everyday life in many African countries from the price of food on market shelves to the cost of moving products over thousands of kilometers. Business Insider Africa, the top 10 African countries with the lowest diesel prices in July 2025. This list is courtesy of GlobalPetrolPrices. Libya ranks at the top of the list. In recent months, however, a few African nations have seen minor drops in fuel costs, providing temporary respite to consumers, transport providers, and companies. While the price decline is excellent news, experts warn that low diesel prices, particularly those caused by subsidies or short-term market trends, may have trade-offs and long-term repercussions for fiscal stability and energy security. Diesel fuels much of Africa's heavy-duty economy. Diesel fuel is used by trucks delivering products across borders, public buses in congested cities, industrial machinery on building sites, and backup generators in places with intermittent energy. As a result, any fall in diesel prices has a direct impact on company costs and the affordability of goods and services. Lower fuel prices frequently result in cheaper public transit, lower food prices, and lower industrial production costs. Lower fuel prices can cut the cost of running generators for homes, schools, and small businesses in rural regions, where grid energy is frequently unstable or nonexistent. While recent price reductions are positive, there are some limitations. In resource-rich nations such as Angola and Nigeria, fuel profits, particularly from diesel and crude exports, account for a sizable share of national income. When global prices fall, these nations lose foreign exchange profits, which might lead to budget deficits and a reduction in public investment in education, health, and infrastructure. Furthermore, nations that use subsidies to artificially decrease fuel costs may face increased budgetary constraints. Subsidies, while politically popular, are sometimes regressive, favoring richer residents who consume more fuel while discouraging investment in renewable energy and social programs. They also skew market signals, discouraging conservation and innovative fuel efficiency solutions. These are some nuanced factors to consider when celebrating low diesel costs; however, low diesel prices present more upside than downsides more times than not. With that said, here are the 10 African countries with the least expensive diesel as of 14th July, as per data from Global PetrolPrices, when the global price was $1.22 per liter, compared to $1.19 in June. Compared to last month's list, Egypt, Angola, Nigeria, Tunisia, and Liberia saw an increase in diesel prices. While Ethiopia saw a reduction in price. Diesel prices for Libya, Algeria and Sudan remained the same. Zambia took the 10th spot this month, ousting Gabon. Top 10 African countries with the lowest diesel prices in July 2025 Rank Country Diesel prices Global rank 1. Libya $0.028 3rd 2. Algeria $0.223 4th 3. Egypt $0.314 6th 4. Angola $0.436 8th 5. Sudan $0.656 17th 6. Nigeria $0.666 18th 7. Tunisia $0.760 26th 8. Ethiopia $0.853 35th 9. Liberia $0.974 51st 10. Zambia $1.013 58th
Zawya
6 days ago
- Business
- Zawya
Senegal, Zimbabwe, eight other African countries with highest petrol prices in July 2025
An increase in fuel prices often concerns consumers and governments across many African countries, as fuel plays a crucial role in manufacturing, transportation, and agriculture. The following, according to are top 10 African countries with highest fuel prices in July 2025. The Central African Republic leads Africa in high fuel prices with $1.869 (₦ 2857.859) despite its natural resources. This stems from limited refining, ongoing political instability, and expensive imports. These factors inflate pump rates, severely impacting transportation and commodity costs, burdening its economy and citizens. Senegal Senegal's current fuel prices are high at the rate of $1.762 (₦ 2,694.553) because the government has cut back on the money it used to spend to keep fuel affordable, and the value of the country's money keeps changing. Because of these two problems, even though the country is trying to improve its energy systems, every day, people are stuck paying more for things like transportation and imported goods, which makes daily life and business more expensive. Zimbabwe Zimbabwe faces high fuel prices due to inflation, a weak local currency, and full reliance on imported fuel paid for in scarce foreign currency. Despite its key location in Southern Africa, the country lacks its fuel production and faces high transport costs. As a result, fuel costs $1.560 (₦ 2385.412), raising the cost of goods and transport, putting pressure on businesses and making daily life harder for citizens. Ivory Coast At $1.522 (₦ 2327.114 ) per litre, Ivory Coast's economy is growing fast, but rising fuel prices are negatively affecting household budgets and increasing the cost of living. Experts link the price hikes to global oil market changes and high import and transport costs. These challenges put pressure on the country's economy and reduce what consumers can afford. Burkina Faso With fuel prices at $1.513 (₦ 2313.505), its affordability in Burkina Faso has worsened due to rising global oil prices and internal security issues that disrupt supply chains. This has led to higher pump prices, especially hurting remote rural areas that depend on poor road networks for essential goods, deepening their economic struggles. Cameroon Cameroon raised fuel prices, currently selling at $1.495 (₦ 2286.287) per litre, due to subsidy cuts and efforts to liberalise its petroleum sector, aiming to ease pressure on the national budget. While this helps government finances, it has made fuel more expensive for citizens, increasing transport costs and raising the overall cost of living. Malawi Malawi sells fuel at $1.457 (₦ 2227.843) per litre, considering that its landlocked location and reliance on distant ports drive up fuel costs due to high transport and logistics expenses. With limited subsidies and a pricing system tied to global oil prices and exchange rates, fuel prices quickly rise when the Kwacha (its official currency )weakens or oil costs increase, causing higher transport costs, pricier goods, and greater economic strain for citizens. Uganda Uganda is working toward becoming a major oil producer, which could boost its economy. Although currently selling at $1.435 (₦ 2197.856) per litre, delays in building refineries and pipelines, along with certain tax policies, mean the country still relies on fuel imports. As a result, fuel prices remain high, causing current financial strain for citizens despite hopes of future relief once local production begins. Morocco Morocco's rising fuel prices are pressuring household budgets due to its heavy reliance on imported petroleum, especially after shutting down its only refinery in 2015. With little local oil production, global price hikes quickly impact local pump rates, making energy costly and affecting transportation and essential goods across the country. It sells fuel at $1.436 (₦ 2195.670) per litre. Kenya In Kenya, fuel is sold at $1.428 (₦ 2183.145) per litre. High fuel prices stem from reliance on imports, global market volatility, and the gradual removal of government subsidies. Heavy taxes and levies, along with distribution challenges, further raise costs. These factors pressure household budgets and drive inflation. While Kenya is working toward renewable energy, the urgent issue remains making conventional fuel more affordable for citizens. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Business Insider
16-07-2025
- Business
- Business Insider
Top 10 African countries with the highest fuel prices in July 2025
From Lagos to Nairobi, high fuel costs have become an unpleasant reality, worsened by global supply chain disruptions, currency depreciation, and infrastructural deficiencies. Several reasons contribute to high gasoline costs in Africa. To begin, many African countries rely significantly on imported refined petroleum products due to a lack of indigenous refining capability. This dependency makes them vulnerable to global oil price volatility and supply chain disruptions. In countries where the native currency has depreciated considerably, such as Nigeria, Zimbabwe, or Ghana, the impact is much worse: gasoline imports become more expensive, and pump prices skyrocket. Government initiatives, such as eliminating fuel subsidies or imposing taxes and levies on petroleum goods, have also contributed to rising costs. The consequences are pervasive and harmful. In nations where public transit is essential, increased fuel prices have resulted in higher fares, making it more difficult for individuals to commute to work or school. Farmers face increasing expenses for operating machinery and transporting products, resulting in higher food prices and lower earnings. Due to rising energy prices, numerous small firms have had to cease or reduce their operations. Inflation on the continent has frequently been related to rising gasoline prices, diminishing buying power, and forcing more people into poverty. Despite the pessimism, many recent developments provide a ray of optimism for a more reliable energy future. One of the most encouraging developments is the increasing impact of Nigeria's Dangote Refinery. Near early July, the business announced plans to build 1.6 million barrels of storage tanks near Walvis Bay, Namibia, with the goal of supplying gasoline and diesel to Southern Africa. The Dangote Refinery, Africa's largest, is ready to play a vital role in stabilizing regional fuel supplies, having just sent its first gasoline to Asia. If effective, this might help the area minimize its reliance on unpredictable foreign markets. With that said, here are the 10 African countries with the highest fuel prices in July, according to Global Petrol Prices. Compared to the top 10 list last month, Central Africa Republic, Senegal, Zimbabwe, Ivory Coast, Burkina Faso, Cameroon, and Uganda, in line with the global average price which increased from $1.27 to $1.29, all saw an increase. Only Malawi and Morocco saw a price reduction in fuel prices. Kenya ranked 10th on the list this month as opposed to Ghana last month. Top 10 African countries with the highest fuel prices in July 2025 Rank Country Fuel prices Global rank 1. Central Africa Republic $1.869 23rd 2. Senegal $1.762 31st 3. Zimbabwe $1.560 47th 4. Ivory Coast $1.522 51st 5. Burkina Faso $1.513 52nd 6. Cameroon $1.495 53rd 7. Malawi $1.457 55th 8. Uganda $1.437 58th 9. Morocco $1.436 59th 10. Kenya $1.428 62nd
Business Insider
15-07-2025
- Business
- Business Insider
Top 10 African countries with the highest diesel prices in July 2025
Given that diesel is essential for transportation, manufacturing, and agriculture in several African countries, high diesel costs continue to be a major concern for both consumers and governments. Business Insider Africa, the top 10 African countries with the highest diesel prices in July 2025. The list is courtesy of GlobalPetrolPrices. The Central African Republic ranks at the top of the list. Diesel, as opposed to gasoline, is essential to heavy-duty and logistical activities in Africa; therefore, changes in its price have a particularly significant effect on supply chains, food prices, and economic activity. Much of the continent still faces high diesel prices due to global price volatility, budgetary restraints, and a lack of domestic refining capacity, even with recent infrastructure improvements and legislative initiatives in some areas. Diesel powers farm equipment, vehicles, buses, and even electrical generators in many African economies, particularly in places with unreliable grids. Food prices rise as a result of increased distribution expenses, transportation firms raise fees, and businesses that rely on generators see increased overheads as fuel prices rise. For millions, this exacerbates the cost-of-living situation and drives up inflation. Despite these obstacles, Nigeria's Dangote Refinery is developing as a potentially game-changing actor. The refinery intends to develop 1.6 million barrels of diesel and gasoline storage at Walvis Bay, Namibia, to service countries such as Botswana, Zambia, and Zimbabwe. This development follows the refinery's introduction into the export market and provides a long-term prospect of alleviating Southern Africa's fuel shortages by making regional supplies more accessible and inexpensive. If successful, the program might lessen Southern Africa's reliance on expensive imported diesel, stabilize prices, and strengthen energy resilience in landlocked countries that rely significantly on fuel imports via coastal routes. With that said, here are the 10 African countries with the most expensive diesel in July, as per data from Global PetrolPrices, which last updated its list on the 7th of July 2025, when the average price of diesel around the world was listed as $1.22 per liter, compared to $1.18 in June. Compared to last month's list, diesel prices for the Central African Republic, Cameroon, Seychelles, Guinea, and Senegal increased slightly. While prices for Malawi, and Burundi reduced slightly. Diesel prices for Zimbabwe, and Sierra Leone remained the same. Uganda, replaced Mozambique, in this iteration of the list. Top 10 African countries with the highest diesel prices in July 2025 Rank Country Diesel price Global rank 1. Central Africa Republic $2.326 3rd 2. Malawi $1.574 43rd 3. Zimbabwe $1.500 44th 4. Cameroon $1.481 46th 5. Seychelles $1.394 52nd 6. Sierra Leone $1.392 53rd 7. Guinea $1.386 55th 8. Senegal $1.351 56th 9. Burundi $1.318 61st 10. Uganda $1.311 62nd
