Economy
Top 10 African countries with the cheapest fuel prices [December 2023]
Premium Motor Spirit (PMS), also known as petrol or gasoline, is a key component of transportation around the world.
It is a refined petroleum product used to power vehicles with internal combustion engines, such as cars, trucks, motorcycles, and boats.
While petrol will likely remain a significant player for some time, its dominance is expected to decline as cleaner and more efficient alternatives become more affordable and accessible.
Governments and industries are investing heavily in developing EV infrastructure and renewable energy sources, which are expected to gradually displace petrol in the long term.
While the world, including African countries, await the proliferation of petroleum alternatives for transportation, below are African countries with the cheapest fuel price as of December 2023 according to a live update from GlobalPetrolPrices:
| Rank | Country | Fuel Price ($) | Global Rank |
| 1. | Libya | 0.031 | 2nd |
| 2. | Algeria | 0.343 | 5th |
| 3. | Angola | 0.362 | 6th |
| 4. | Egypt | 0.404 | 7th |
| 5. | Nigeria | 0.794 | 21st |
| 6. | Tunisia | 0.814 | 25th |
| 7. | Gabon | 0.994 | 35th |
| 8. | Liberia | 1.024 | 38th |
| 9. | Sudan | 1.062 | 47th |
| 10. | Ghana | 1.082 | 50th |
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