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10 African countries that surprisingly have the cheapest gas prices in the world
A number of African countries, particularly gas producing countries, have gas prices lower than the global average.
It is common knowledge that a low price of gas makes an industrialized community flourish.
The efficiency at which an economy functions is directly tied to its accessibility to energy. Energy is a critical resource, tantamount to the growth and development of any province.
As a result it is vital that governments procure a constant source of energy for their people.
Unfortunately, this has not been the case since the year began as numerous factors, particularly Russia’s invasion of Ukraine, have stifled the global energy market.
Regardless, some countries have managed to handle the crises fairly well. While the price of energy has undoubtedly soared all across the globe, the impact has not been the same for every country.
Some countries are currently struggling with their gas prices, which is inevitably taking its toll on said economies, read story here. While others are suppressing the negative impact as best as can be suppressed.
In Africa, both sides of the coin are prevalent, as countries that are currently struggling to manage the crises have some of the most absurd gas prices in the world, whereas African countries that are procuring solutions to the crises have some of the very lowest gas prices in the world.
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.
