See the top 10 African countries with the highest fuel prices in 2024 so far

Rising fuel costs have an immediate impact on all other expenses, thereby exerting pressure on the prices of goods and services.

Consequently, this surge can fuel inflation as businesses transfer elevated operational costs to consumers.

As a result, regulating energy prices has emerged as a paramount concern for numerous governments.

Particularly in certain African nations where gasoline serves dual purposes in transportation and power generation.

In Ghana for instance, the Institute for Energy Security (IES) predicted a marginal increase in the price of petrol, diesel and Liquefied Petroleum Gas (LPG) in the first pricing window of March 2024.

The second pricing window of February saw the price of petroleum products surge at the pumps in line with projections on the local fuels market.

The IES tracking of Oil Marketing Companies (OMCs) activities revealed that liquid fuel prices went up at an average of GH¢0.45 for diesel and GH¢0.30 for petrol per litre. LPG also increased by GH¢0.65 per kilogramme.

According to the energy think tank, this is largely due to the worsened Ghana cedi.

“Following the continuous price hikes recorded by all refined petroleum products under consideration on the world fuels market in the past two weeks, the local market will likely reflect these changes. Given the Ghana cedi’s poor performance, coupled with the rising prices of petroleum products on the world fuels market, IES expects prices to increase marginally in the early days of March [2024]”.

Moreover, sectors heavily dependent on transportation, such as logistics, manufacturing, and agriculture, may encounter heightened operational expenses.

This, in turn, may translate into diminished profit margins, potential workforce reductions, or heightened prices for their offering.

With that said, below are the top 10 African countries with the most expensive fuel prices at the start of 2024.

This list is courtesy of GlobalPetrolPrices.com and was last updated on February 26, 2024.

The average price of gasoline around the world is U.S. Dollars 1.31  per litre.

10 African countries with the highest fuel prices in March, compared to January.

Africa rank
Country
Fuel price (March)
Global rank
Fuel price (January)
Global rank (January)

1.
Central Africa Republic
$1.821
26th
$1.835
23rd

2.
Zimbabwe
$1.640
40th
$1.550
47th

3.
Senegal
$1.640
41st
$1.654
35th

4.
Morocco
$1.536
49th
$1.561
46th

5.
Seychelles
$1.530
50th
$1.602
42nd

6.
Sierra Leone
$1.524
51st
$1.524
50th

7.
Burundi
$1.518
53rd
$1.522
51st

8.
Malawi
$1.503
54th
$1.503
53rd

9.
Zambia
$1.474
58th
–
–

10.
Ivory Coast
$1.450
63rd
$1.462
58th