Top 10 African nations with lowest diesel costs in October 2024

AFRICA: Affordable energy, particularly diesel, plays a vital role in driving the economies of numerous African nations.

Lower diesel prices reduce operational costs across essential sectors such as manufacturing, transportation, and agriculture, ultimately fueling growth.

Diesel remains a primary energy source in many African countries, especially those struggling to establish robust energy infrastructure for cleaner alternatives.

Tanzania, for example, continues to offer competitive diesel prices, playing a crucial role in sustaining its key industries and ensuring economic stability.

According to the latest report from the Energy and Water Utilities Regulatory Authority (EWURA), diesel prices in the country have remained relatively low, providing much-needed relief to both residents and businesses.

The availability of affordable diesel fuels economic activities and helps reduce the cost of goods and services in countries where purchasing power is still developing.

As of October 2024, the global average diesel price stands at 1.19 U.S. dollars per litre, slightly down from the previous month’s average of 1.21 U.S. dollars per litre.

Algeria, Egypt, Tunisia, Ghana, and Gabon have all experienced slight decreases in diesel prices, while increases have been observed in Angola, Ethiopia, and Nigeria. Diesel prices in Libya, Sudan, and Tanzania have remained stable.

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Libya tops the list with the lowest diesel price in Africa, at just $0.031 per litre, ranking third globally.

Algeria follows closely with a price of $0.217 per litre, placing fourth globally, while Angola’s diesel price of $0.220 per litre earns it the fifth spot globally.

Egypt offers diesel at $0.237 per litre, placing sixth globally, while Sudan remains competitive with a price of $0.656 per litre, ranking eighteenth globally.

Further down the list, Tunisia offers diesel at $0.720 per litre, placing it twenty-fourth globally.

Ethiopia, another East African country, has a diesel price of $0.744 per litre, positioning it twenty-fifth in global rankings.

Nigeria, one of Africa’s largest oil producers, offers diesel at $0.844 per litre, ranking thirty-third globally.

Ghana’s diesel price stands at $0.893 per litre, putting the country in forty-first place globally.

Gabon rounds off the list with a diesel price of $0.955 per litre, securing the fifty-second spot worldwide.

Here are the 10 African countries listed by GlobalPetrolPrices.com with the lowest diesel prices for October.