The cost of gas is lower in a lot of African nations, particularly those that produce gas.
North African nations make up the majority of the list. Two nations that don’t produce oil are included. It is well known that an industrialized town thrives at a cheap gas price.
An economy’s ability to get energy is closely related to how efficiently it runs. Energy is a vital resource that is essential to the expansion and advancement of any region.
Governments must therefore secure a reliable energy supply for their citizens.
Sadly, since the start of the year, the global energy market has been constrained by a number of circumstances, most notably Russia’s invasion of Ukraine.
Nevertheless, several nations have handled the crises reasonably successfully. While the cost of energy has clearly increased all throughout the world, not all nations have experienced the same effects.
Some nations are currently experiencing difficulty with their gas prices, which is unavoidably having an impact on those nations’ GDP. While others attempt to mitigate the bad effects as much as possible.
Both sides of the coin are evident in Africa: countries that are now battling crises have some of the most outrageous gas prices in the world, whilst African nations that are pursuing crises solutions have some of the lowest gas costs in the entire globe.
Both sides of the coin are evident in Africa: countries that are now battling crises have some of the most outrageous gas prices in the world, whilst African nations that are pursuing crises solutions have some of the lowest gas costs in the entire globe.
Below are ten of the latter in October 2022, according to Globalpetrolprices.com;
Libya: This North African country has the second lowest gas price in the world. It is second only to Venezuela which has a gas price of $0.016 per liter. Libya’s gasoline price is $0.030 per liter.
Algeria: Yet another North African country that is high up on this particular global scale. The country has the fourth-lowest gasoline price at $0.328 per liter.
Angola: As of June, this country had a fuel price of $0.37 per liter, it now has a fuel price of $0.362, making it one of the few African economies that are mitigating the energy crises effectively.
Nigeria: It is rather surprising that a country that has struggled with oil theft all year round would be at this spot on the list, read story here. But such is to be expected of the continent’s largest oil producer. Nigeria currently has a fuel price of $0.436 per liter.
Egypt: Countries that sit atop this list are largely oil-producing regions, and Egypt is no exception. The current price of gas in this historically rich nation is $0.546 per liter.
Tunisia: Not exactly a large oil producer, government officials in this country have no less decided to make oil affordable at $0.734 per liter.
Benin: Ranked 128th out of 195 countries in oil production, Benin somehow manages to secure a spot on the list of 10 African countries with the cheapest gasoline. Its gasoline price is $0.888 per liter.
Gabon: This country boasts a fair amount of oil production for its size at 210,428 barrels per day. Its current price for gasoline is $0.896 per liter.
Sudan: Coming in at number 9 on this list is Sudan. It is the largest country per area in Africa but manages a fair production of oil at 107,853 per day, making it the 48th largest oil producer in the world. Its gas price is $0.903 per liter.
Zimbabwe: Finally, on this list we have Zimbabwe. The price of gasoline in this Southern African country is $0.921 per liter. Well above the global average of $1.27 per liter.
