African nation ranks second globally for highest fuel prices – data

Malawi tops Africa and is behind only Hong Kong globally, according to GlobalPetrolPrices

Malawi has recorded the highest gasoline prices in Africa and the second highest globally, reaching $3.84 per liter as of Monday, according to data from analytical portal GlobalPetrolPrices.

The southeastern African nation also leads the continent in diesel prices, with fuel costing $3.85 per liter. Malawi is second only to Hong Kong globally in both the gasoline and diesel rankings.

In the African diesel price ranking, the Central African Republic (CAR) follows with $2.231 per liter, ahead of Zimbabwe at $2.110 and Sierra Leone at $2.033.

The surge in gasoline prices places Zimbabwe in second place at $2.230 per liter, followed by the CAR at $1.874 and Sierra Leone at $1.779. Morocco, Senegal, Rwanda, Mali, Burkina Faso, and Cameroon also rank among the top ten African countries with the highest fuel prices.

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At the other end of the scale, Libya has the lowest fuel prices in Africa, with both gasoline and diesel costing just $0.024 per liter. Algeria and Angola are also among the cheapest, where fuel costs approximately $0.33 and $0.36 per liter, respectively.

Countries around the world are grappling with supply disruptions following restrictions in the Strait of Hormuz since the US and Israel launched their war on Iran in late February. The disruption has sent oil prices higher and triggered knock-on effects across global supply chains. 

Earlier this month, a joint report by the African Union, the UN Economic Commission for Africa, and the World Bank warned that ongoing disruptions to shipping, energy, and fertilizer supplies could deepen trade shocks and trigger a broader cost-of-living crisis across Africa, driven by rising fuel and food prices.

READ MORE: Global energy crisis hits Africa – expert

Meanwhile, South Africa’s government has temporarily cut fuel levies to cushion the impact of rising global energy prices. From April 1 to May 5, the levy will drop by R3 ($0.16) per liter, lowering gasoline and diesel costs. As of Monday, gasoline prices in South Africa stood at $1.397 per liter, while diesel was priced at $1.743, according to GlobalPetrolPrices.

READ MORE: South Africa moves to ease fuel crisis