Nigeria Sells Most Expensive Petrol Per Litre Among African Oil-producing Nations
New data released by GlobalPetrolPrices.com, last weekend showed that after the total stoppage of the underpayments, Nigeria, Africa’s biggest oil producer, now has one of the highest petrol prices on the continent among key oil producers.
The data indicates that among the top oil-producing countries in Africa, Gabon’s price came highest with $0.952 while Nigeria sold for $0.768 as of December 2024.
Libya has the cheapest petrol price per litre of $0.031 on the continent and second globally, followed by Angola at $0.329; Egypt’s $0.335 per litre; Algeria $0.343 per litre while Sudan’s was $0.700; followed by Ethiopia $0.718 per litre of petrol.
The average price of petrol around the world during the period was $1.24 per litre, but with substantial difference in the prices among countries due to different taxes and levies, the report said.
Globally, the report showed that Iran has the cheapest petrol price at $0.029, closely followed by other oil-producing countries like Libya, Venezuela, Angola, Egypt, Kuwait, Algeria, Turkmenistan, among others.
On the other hand, countries with the most expensive petrol prices per litre worldwide are: Hong Kong ($3.311); Monaco ($2.240); Iceland ($2.197); Denmark ($2.052); Israel ($2.052) and Netherlands ($2.050).