- The Central African Republic has the highest prices of petrol as of January 2025 at US$1.718 per liter.
- The average price of petrol around the world is US$1.13 per liter.
- The list of petrol prices by Afircan countries is the courtesy of Global Petrol Prices.
The average petrol price around the world is 1.23 U.S. per liter, but the price varies from country to country. Similarly, prices of petrol in Africa fluctuate depending on global market changes and monetary policies initiated by governments.
African countries experiencing the highest cost of petrol are most importers, which is subject to global market fluctuations occasioned by supply and demand dynamics. However, others, but a few Afrian countries, produce their own oil, but price differences are linked to a combination of internal and external factors.
For instance, Nigeria, despite being an oil-producing country, still imports oil and has been impacted by limited refining capacity, foreign exchange volatility, and global crude oil prices—offsetting benefits from domestic refining efforts. Even with local production in Nigeria, disruption in global supply chains is still affected due to increased shipping and delays, further driving up petrol prices.
Among other oil-producing African countries with the cheapest petrol prices are Libya, Angola, South Sudan, Chad, the Republic of the Congo, Egypt, and Algeria.
Countries like Kenya import all the internal and external factors, leading to costly prices. Geopolitical instability such as the Russia-Ukraine war and unrests in countries like Venezuela have disrupted supply chains, leading to higher prices globally.
Kenya, for instance, discontinued fuel subsidies two years ago, which has since shot the pertol prices to another level, affecting various sectors, including transport, agriculture, and retail. Other economic factors, such as taxes—the fuel levy has significantly led to high petrol prices.
With many African countries importing petroleum products, currency fluctuation—local currency’s value against the US dollar, a standard currency for global oil trades—remains a challenge and unpredictable, sometimes leading to high petrol prices.
Higher prices in African countries also pose significant economic implications, such as inflationary pressures, an economic growth slowdown, increased production costs, trade balance deterioration, and budget deficits, further exacerbating the cost of living.
The Central African Republic has the highest petrol price as of January 2025, according to Global Petrol Prices. A liter of petrol in the Central African Republic cost US$1.718. Senegal follows closely at a cost of US$1.546.
