The increase in diesel costs has an impact on a wide range of industries, including transportation, agriculture, and the overall cost of living. This is especially true in countries that have not pursued alternative energy sources. However, a developing country with a cheap diesel price has indirectly brought some economic respite to its population.
Low energy prices benefit Africa’s economy, society, and environment. Diesel costs, in particular, can help African countries flourish by lowering the cost of operating a range of businesses, including transportation, manufacturing, and agriculture.
Diesel fuel is an important source of energy for many African countries, particularly those that are struggling to construct conventional energy infrastructure.
If the economy is heavily reliant on diesel and there are few alternatives to diesel-powered engines, the high cost of diesel may cause financial hardship. However, once these issues are rectified, there is some financial relief.
Here are the 10 African countries with the lowest diesel costs, according to GlobalPetrolPrices.The list was last updated on July 22, 2024, when the global average price for diesel was 1.25 US dollars per liter.
Liberia is the only country on the list with a diesel price greater than one dollar. Diesel prices in Angola, Tunisia, Gabon, and Ghana increased from the previous month, while prices in Nigeria and Liberia decreased. The diesel price in every other country stayed constant.
Top 10 African countries with the lowest cost of diesel in July 2024
Rank | Country | Diesel cost | Global rank |
---|---|---|---|
1. | Libya | $0.031 | 3rd |
2. | Egypt | $0.207 | 4th |
3. | Algeria | $0.216 | 5th |
4. | Angola | $0.229 | 6th |
5. | Sudan | $0.656 | 18th |
6. | Tunisia | $0.710 | 20th |
7. | Nigeria | $0.874 | 33rd |
8. | Gabon | $0.954 | 43rd |
9. | Ghana | $0.984 | 46th |
10. | Liberia | $1.027 | 57th |