Report Shows Libya Sells Petrol At N52 Per Litre

A report by Global Petrol Prices has shown that Libya sells the cheapest petrol in Africa.

Global Petrol Prices is a platform that keeps track of retail petrol prices across various countries.

The report showed that the price of octane-95 gasoline (petrol) stood at 0.15 Libyan Dinar per litre. It is approximated at $0.031 or N52 as of September 16, 2024.

The report showed that in Egypt, Angola, and Algeria, the prices of petrol stood at $0.310, $0.348, and $0.323 per litre, respectively.

However, the above four countries are the only ones that sell the commodity cheaper than Nigeria.

Multiple reports and data show that Nigeria’s current petrol price is N1,000 per litre. It is even much higher in black market as the rates have gone up to N1,600 per litre.

According to the report, the Central African Republic has the highest petrol price on the continent, at $1.864 per litre.

Aside Central African Republic and Nigeria, other countries on the continent, with high petrol rates are.

Senegal ($1.678), Seychelles ($1.627), Zimbabwe ($1.530), Morocco ($1.437), and Uganda ($1.396).

Others with costlier petrol are Malawi ($1.457), Côte d’Ivoire ($1.483), Kenya ($1.451), and Sierra Leone ($1.423).

Others are Burkina Faso ($1.440), Cameroon ($1.423), Mali ($1.440), and Senegal ($1.678).

Nigeria, being one of the continent’s largest producers of oil, has continued to receive criticism for its high petrol cost.

The issue was compounded following the removal of the petrol subsidy in 2023 by President Bola Tinubu.