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Tuesday, February 27, 2024

5 African countries with the cheapest gas prices in 2022

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Although Venezuela is known as the country with the cheapest gas price in the world, this article aims to only focus on the top 5 African countries with the cheapest gas prices in 2022.

The conclusion was drawn from a study that looked at gasoline prices in over 150 countries and territories, and used the world’s best-selling car, the Toyota Corolla, to figure out how far one could travel in each country on $50 worth of gas.

According to the survey, Nigeria has the lowest petrol price in West Africa and Zimbabwe has the highest petrol price in Africa, at $10.70 a gallon.

The price of gasoline in Hong Kong is the highest in the world, at $13.10 a gallon which is $1.15 more than the second most costly location and double the global average.

Here’s a list of the top 5 African countries with the cheapest gas prices in 2022

  • Libya ($0.15 per gallon)
  • Algeria ($1.46 per gallon)
  • Angola ($1.60 per gallon)
  • Nigeria ($1.82 per gallon)
  • Egypt ($2.37 per gallon)

It is evident that fuel prices will increase over time. As the rate of inflation rises, so too will the price of fuel in Africa.

This means that the list of the African countries with the cheapest gas prices in 2022 might get longer before the end of the year.

However, it should be noted that even though African countries have one of the lowest fuel prices in the world, these prices are still quite high compared to other countries around the world and therefore create a link for improvement and evolution.

Africans may have a shortage in their supply of oil but with most African countries gradually becoming industrialized, there is hope that this issue will soon be fixed.

Also read: 10 African Countries With The Highest Crude Oil Production in 2022

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