Top 10 African countries with the highest petrol prices in September
Global oil markets remained under pressure in September as the conflict in the Middle East kept crude prices above $100 per barrel, while tight refined-product supplies and rising freight costs added to the cost of moving fuel across international markets. The post Top 10 African countries with the highest petrol prices in September appeared first on Nairametrics .
In September, the price of petrol in Africa varied greatly, with Malawi having the highest price at approximately $3.240 per litre. This was followed by Zimbabwe and Sierra Leone. By contrast, countries like Libya, Angola, and Algeria had much lower petrol prices, at $0.023, $0.327, and $0.351 per litre, respectively. Nigeria also had relatively low petrol prices, at $0.997 per litre.
The prices were influenced by several factors including the conflict in the Middle East, tight refined-product supplies, rising freight costs, and differences in government policies on subsidies and taxation. Despite reports that Middle East crude oil exports had recovered to about 98% of their pre-war levels, the price of Brent crude ended September at $103.50 per barrel, 42.8% higher than the price before the U.S. attacked Iran.
Some countries, like Kenya, Senegal, Uganda, Seychelles, the Central African Republic, Rwanda, and Zimbabwe, appeared in the top 10 for having the highest petrol prices in Africa. Many of these countries were dependent on imported refined petroleum products and had weak domestic refining capacity, leading to high transportation costs and exchange-rate pressures.
Some countries, such as Seychelles and Malawi, had petrol subsidies but still had high prices due to international petroleum prices, shipping, import, and distribution costs.
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