With the constant looming fuel price increase in Ghana, the shortage of gasoline that has caused long queues at gas stations for over a month in Nigeria, it seems Africans are going through one of the toughest economic crises plummeted by the high foreign exchange rate, the constant increase in fuel prices and many.
In regards to this, GhBase takes a look at the 10 countries in Africa that has the most expensive fuel prices in relation to the US dollar.
In some African countries like Nigeria, Uganda, Zimbabwe, and Sub-Saharan Africa, petrol prices are soaring and most of it has been attributed to the ongoing Russian invasion of Ukraine, and as the conflict continues to escalate, it could have an even more negative impact on energy costs in Africa.
Russia, as one of the world’s top producers of crude, DW reports that possible cuts to Russian crude by the UK and US are yet another factor that has influenced rising energy costs around the world.
Global oil price is currently trading at $102.6 per barrel and with this, we bring you the 10 African countries with the highest petrol prices.
- Zimbabwe: This Southern African country has the highest petrol cost in Africa. A litre of petrol costs as much as $2.153. Earlier this month, the country’s Energy and Power Development Minister, Zhemu Soda, explained that frequent petrol price hikes was due to developments in the international oil industry. Zimbabwe is not an oil producer, although there were conflicting reports about crude oil discovery in Northern Zimbabwe back in 2018.
- Seychelles: This island country has the second most expensive fuel price in Africa. According to the information we are working with, a litre of petrol in this country is sold for $1.541. The country does not currently produce any oil and gas, although some international oil companies are busy prospecting potential oil deposits off its many coasts.
- Malawi: In Malawi, it costs $1.426 to buy a litre of petrol. The country is said to have a great prospect of discovery crude oil reserves in Lake Malawi.
- South Africa: Here, a litre of petrol costs $1.413. In 2019, Total Energies announced that it had made a major discovery of gas condensates in one of its exploration fields in South Africa. Experts said this could significantly improve the country’s fortunes.
- Uganda: In this East African country, a litre of petrol costs $1.389. The high cost of petrol in Uganda is despite the fact that the country actually produces oil. Checks by Business Insider Africa show that the country’s crude oil reserves, as of 2021, stood at 2.5 billion barrels.
- Mauritius: This country has the sixth most expensive petrol price in Africa at $1.381 per litre. Mauritius currently does not produce oil, although experts say there are prospects.
- Burundi: In this East African country, a litre of petrol costs $1.340. According to the United Nations’ Environmental Programme, this country currently does not have any local sources of crude oil or natural gas.
- Senegal: In this Francophone West African country, it costs $1.299 to buy a litre of petrol. The country discovered some crude oil deposits between 2014 and 2017, although full-scale exploration has been pushed back till 2023.
- Lesotho: In this country, it costs $1.231 to buy a litre of petrol. The country does not have any confirmed oil deposits.
- Rwanda: Here, a litre of petrol costs $1.230. Again, this East African country does not produce crude oil.
The list is courtesy of data made available by Global Petrol Prices.
Portions of text culled from Pulse Ghana