- Business Insider Africa presents the top 10 African countries with the lowest cost of diesel in September 2024.
- This list is courtesy of Global Petrol Prices.
- The list was last updated on the 16th of September 2024.
The rise in diesel costs affects several businesses, such as transportation and agriculture, particularly in African countries where there are little to no alternative energy sources. On the flip side, a developing country with cheap diesel costs offers its people a financial edge.
Top 10 African countries with the lowest cost of diesel in September 2024
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For businesses that depend on large vehicles, heavy machinery, and generators, cheap diesel costs reduces operational expenses.
This is especially crucial in industries like manufacturing and agriculture, where diesel is needed to power machinery, move cargo, and oversee production procedures.
For many African countries, especially those struggling to develop alternative energy infrastructure, diesel is a critical energy source.
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However, because of their over reliance on diesel, high diesel prices can create economic challenges.
Addressing this issue can provide a financial boost that resonates across its economy, helping to lower overall living costs.
In African countries where diesel costs are kept low, either through subsidies or local production, the total cost of living may be maintained.
Affordable diesel costs help to prevent inflation by keeping transportation, energy, and food expenses under check.
With that said, below are the ten African countries with the cheapest diesel according to Global Petrol Prices.
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The list was last updated on the 16th of September, 2024, with the global average price for diesel standing at 1.21 U.S. dollars per liter compared to 1.23 U.S. dollars per liter in August.
Compared to August, diesel prices for Libya, Algeria, Tunisia, and Gabon in September increased despite the drop in global average diesel price.
While prices for Angola, Egypt, Ethiopia, Nigeria, reduced. Diesel prices for Sudan remained the same.
Top 10 African countries with the lowest cost of diesel in September 2024
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| Rank | Country | Diesel price | Global rank |
|---|---|---|---|
| 1. | Libya | $0.031 | 3rd |
| 2. | Angola | $0.215 | 4th |
| 3. | Algeria | $0.219 | 5th |
| 4. | Egypt | $0.238 | 6th |
| 5. | Sudan | $0.656 | 17th |
| 6. | Tunisia | $0.729 | 23rd |
| 7. | Ethiopia | $0.733 | 25th |
| 8. | Nigeria | $0.842 | 33rd |
| 9. | Ghana | $0.921 | 41st |
| 10 | Gabon | $0.974 | 53rd |
