Africa Guardian

^{Our Correspondent | Africa Guardian}

The increasing cost of diesel is a pressing concern for various industries, including transportation and agriculture, throughout Africa. Business Insider Africa, with data from GlobalPetrolPrices, has highlighted the top 10 African countries with the lowest diesel prices as of the end of 2024.

Key Points to Note:

• Libya leads the list as the country with the lowest diesel prices.
• Diesel remains a critical energy source in many African markets, particularly in nations that have been slow to adopt alternative energy solutions.
• Reducing energy costs is crucial for businesses that depend on reliable power, which is why diesel prices play a significant role in shaping the economic landscape.

Diesel is vital for industries like agriculture and manufacturing, where it powers machinery, facilitates transportation, and supports industrial operations. Lower diesel prices can reduce overall living costs, helping to curb inflation, particularly by controlling transport, electricity, and food prices.

As of December 16, 2024, the global average diesel price stands at $1.17 per liter, unchanged from the previous month. Diesel prices in Egypt, Tunisia, Ethiopia, and Gabon saw a decrease in December, while Nigeria was the only country on the list to experience an increase. Diesel prices in Libya, Algeria, Angola, and Sudan remained steady, and Liberia made its way onto the list, replacing Ghana.

Here are the top 10 African countries with the lowest diesel prices as of December 2024:

1. Libya – $0.031 (3rd globally)
2. Algeria – $0.217 (4th globally)
3. Angola – $0.220 (5th globally)
4. Egypt – $0.237 (6th globally)
5. Sudan – $0.656 (18th globally)
6. Tunisia – $0.720 (24th globally)
7. Ethiopia – $0.744 (25th globally)
8. Nigeria – $0.844 (33rd globally)
9. Ghana – $0.893 (41st globally)
10. Gabon – $0.955 (52nd globally)

These rankings reflect significant variations in diesel prices across Africa, influenced by factors such as government subsidies, tax policies, and supply chain efficiencies.

Further Africa

Please note that fuel prices are subject to change due to various factors, including global oil market fluctuations, exchange rates, and domestic policies. For the most current information, it’s advisable to consult official sources or recent reports.

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