The world, since the start of the year has experienced a rollercoaster of economic complications. These developments have a wide range of implications on everyday consumers. Fluctuating inflation rates are a regular source of public concern and controversy and can be attributed to a variety of factors, including geopolitical tensions, supply and demand dynamics, amongst other factors.
The African economy, like other regions has been vulnerable to said variables which have been beneficial or detrimental to the advancement of the continent. One of these factors is the cost of energy, which typically has a big impact on a lot of industries. As countries across Africa seek sustainable growth, the challenge of managing rising fuel prices presents a complex conundrum that requires rigorous research and innovative solutions.
With that said, it is important to note that different regions experience different costs of energy, and while that might seem like a simple fact, said regions also have different fiscal realities that could constitute a problem to the country’s overarching economy.
Simply put, some of Africa’s emerging economies are not resilient enough to survive the economic ripple effects of increased energy costs, making selling gasoline at an average price appear to be highly expensive. A number of African nations sell fuel for less than the worldwide average price of $1.33 per liter, and yet still bear heavy brunts of rising fuel cost.
Recent reports claim that the sub-continent of East Africa, particularly Kenya and Tanzania is currently struggling with rising gasoline prices. In West Africa, Nigeria, which just abandoned its expensive fuel subsidy scheme, is also suffering from the effects of increased gasoline prices, despite still boasting one of the world’s lowest fuel prices.
Despite this, a number of African countries, ten of which are on the list, sell petroleum at prices higher than the world average.
The ten African nations with the highest fuel prices are shown below, against their last month’s figures. The list is courtesy of GlobalPetrolPrices.com, a platform that updates fuel prices across the globe daily.
| Rank | Country | Fuel price/liter (September) | Global rank (September) | Fuel price/liter (August) | Global rank (August) |
|---|---|---|---|---|---|
| 1. | Central Africa Republic | $1.798 | 35th | $1.841 | 27th |
| 2. | Malawi | $1.648 | 47th | $1.659 | 41st |
| 3. | Senegal | $1.618 | 48th | $1.657 | 44th |
| 4. | Zimbabwe | $1.610 | 49th | $1.570 | 49th |
| 5. | Seychelles | $1.586 | 51st | $1.547 | 51st |
| 6. | Mauritius | $1.512 | 58th | $1.527 | 53rd |
| 7. | Cape Verde | $1.508 | 59th | $1.461 | 60th |
| 8. | Morocco | $1.473 | 63rd | $1.521 | 55th |
| 9. | Zambia | $1.435 | 67th | ||
| 10. | Mali | $1.416 | 69th | $1,449 | 61st |
Thanks God for life and the fourth generation of computer science fiction