Top 10 African Countries with the Lowest Fuel Prices in April 2024
In April 2024, GlobalPetrolPrices.com released its latest rankings of African countries with the lowest fuel prices. Low gasoline prices play a crucial role in boosting economies, particularly in developing nations like many African countries. They not only impact transportation costs but also influence various sectors, including manufacturing, agriculture, and logistics.
This is why Low Fuel Prices Matter
High transportation costs can exacerbate deprivation by limiting access to essential goods and services, such as food, healthcare, and education, especially in rural areas. Lower fuel costs alleviate this burden, making transportation more affordable for low-income individuals and underserved communities. Accessible transportation also enhances access to job opportunities, markets, and social services, contributing to poverty alleviation and community empowerment.
Businesses reliant on transportation face higher operational expenses when fuel prices are high, potentially leading to reduced profit margins, particularly in regions heavily dependent on power generators. Therefore, affordable fuel prices are pivotal for sustaining economic activities and ensuring the profitability of businesses across various sectors.
Top 10 African Countries with the Lowest Fuel Prices – Verified
Here are the top 10 African countries with the lowest fuel prices in April 2024, according to GlobalPetrolPrices.com:
1. Libya: $0.031 per liter -Global rank: 2nd
2. Egypt: $0.281 per liter -Global rank: 4th
3. Algeria: $0.342 per liter -Global rank: 6th
4. Angola: $0.359 per liter -Global rank: 8th
5. Nigeria: $0.549 per liter -Global rank: 13th
6. Sudan: $0.700 per liter -Global rank: 20th
7. Tunisia: $0.800 per liter -Global rank: 22nd
8. Liberia: $0.968 per liter -Global rank: 31st
9. Gabon: $0.968 per liter -Global rank: 32nd
10. Ghana: $1.051 per liter -Global rank: 40th
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Conclusion
Low fuel prices in African countries are not only vital for economic stability but also contribute to poverty reduction, business sustainability, and community empowerment. As nations strive to enhance their economic competitiveness and improve living standards, affordable fuel remains a cornerstone for driving growth and development across the continent.