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Over the past year, fuel prices increased in several African countries. Most of Africa, especially its biggest nations, faced significant fiscal challenges at the start of 2023 and, consequently, the new year. However, these pressures are projected to be eased, as measures and initiatives are being put in place to curtail the energy inflation plaguing the continent.
Rising petroleum prices rapidly impact costs associated with transportation, which puts pressure on the cost of products and services.
As a result, this increase may contribute to inflation when businesses pass on higher operating expenses to customers.
Furthermore, industries that rely significantly on transportation, such as manufacturing, logistics, and agriculture, can see higher operating costs. This might thus result in lower profit margins, possible employee layoffs, or higher prices for their product.
Ultimately, rising fuel costs can hamper economic growth by dampening consumer spending, stifling investment, and constraining productivity.
Energy is such an important input in so many industries, from transportation to agriculture, variations in fuel costs may have a ripple effect throughout the continent, affecting individuals, businesses, and governments alike.
With that said, here are the top 10 African countries with the most expensive fuel prices in April 2024. This list is courtesy of GlobalPetrolPrices.com and was last updated on the 22nd of April 2024.
The average price of gasoline around the world currently is 1.34 U.S. Dollars per liter.
| Rank | Country | Fuel price | Global rank |
|---|---|---|---|
| 1. | Central Africa Republic | $1.789 | 33rd |
| 2. | Zimbabwe | $1.690 | 41st |
| 3. | Senegal | $1.610 | 48th |
| 4. | Seychelles | $1.568 | 50th |
| 5. | Sierra Leone | $1.524 | 53rd |
| 6. | Morocco | $1.523 | 54th |
| 7. | Burundi | $1.513 | 56th |
| 8. | Kenya | $1.499 | 58th |
| 9. | Uganda | $1.459 | 66th |
| 10. | Malawi | $1.453 | 67th |
