Business Insider Africa presents the 10 African countries with the highest fuel prices in 2023.
The list is courtesy of GlobalPetrolPrices.com, a platform that updates fuel prices around the world daily. Most African countries sell fuel at or below the global average of $1.33 per litre.
When it comes to fuel costs, the world has recently experienced ups and downs. The effects of these changes on economies, economic sectors and regular consumers are extensive. Geopolitical tensions, supply and demand dynamics, and other variables can contribute to high gasoline prices, which are often a topic of popular concern and discussion.
Like many other economies around the world, the African economy is grappling with the negative consequences of rising gasoline costs. Fuel prices have a significant influence on several industries, including transportation, social welfare, economic growth and inflation. The difficulty of managing rising fuel prices poses a complicated conundrum that requires careful analysis and creative solutions as nations across Africa seek sustainable growth.
According to recent reports, the high cost of fuel has caused a certain degree of discontent in several nations on the continent. Due to rising gasoline prices, countries like Kenya have had a considerable number of protests. The high price of gasoline is also having a negative impact in Nigeria, which just ended its costly fuel subsidy program.
Article source:BUSINESS INSIDER AFRICA