As 2024 attracts to an in depth, low gas costs in some African international locations present aid for his or her residents. Reasonably priced gas can scale back dwelling prices, easing the monetary burden on households.
Compiled here’s a record of the highest 10 African international locations the place gas costs are the bottom as of December 2024, courtesy of GlobalPetrolPrices.com.
Components Influencing Low Gas Costs A number of African international locations profit from particular circumstances that assist preserve decrease gas prices. These embody:
Pure Useful resource Abundance: Nations wealthy in oil reserves can use their assets to decrease home gas costs.
Authorities Insurance policies: Subsidies or worth caps are sometimes used to stop social unrest and stabilise the economic system.
Refining Capability: Nations with superior refining infrastructure can course of crude oil regionally, lowering the prices related to importing refined merchandise.
Listed below are the ten African international locations with essentially the most inexpensive gas costs on the finish of 2024, together with their world rankings:
Libya – $0.031 per litre (2nd globally)
Angola – $0.329 per litre (4th globally)
Egypt – $0.335 per litre (fifth globally)
Algeria – $0.343 per litre (seventh globally)
Sudan – $0.700 per litre (twenty first globally)
Ethiopia – $0.718 per litre (twenty fourth globally)
Nigeria – $0.768 per litre (twenty seventh globally)
Tunisia – $0.796 per litre (twenty eighth globally)
Liberia – $0.857 per litre (thirty second globally)
Gabon – $0.952 per litre (forty first globally)
International Context The common worth of gasoline worldwide was $1.24 per litre in December, displaying a slight lower from $1.25 per litre in November. Particular adjustments in African international locations embody slight worth reductions in Egypt, Algeria, Ethiopia, Tunisia, Liberia, and Gabon. In the meantime, costs in Libya, Sudan, and Angola remained steady, and Nigeria noticed a rise in comparison with the earlier month.