Despite Dangote Slashing Diesel Price, Nigeria is Missing on List of Countries to Get Cheapest Fuel
- Diesel serves as the main energy source for a wide range of machines, including generators that produce electricity
- Excessive diesel costs are a significant obstacle to the progress of numerous African countries
- A new report by GlobalPetrolPrices has highlighted countries where diesel is sold for the lowest in Africa
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
Diesel is the primary energy source for many different kinds of machinery, including electricity-producing generators, in several African countries.
Source: Getty Images
High diesel prices could be a major hindrance to the development of many African nations, especially if it is difficult for the common citizen to afford this liquid fuel.
If there are few alternatives to diesel-powered engines and the economy is heavily reliant on diesel, then the high cost of diesel can also cause issues.
Elevated costs for fuel also result in increased transportation expenses, making the process of getting goods from producers to consumers more expensive. This could make poverty and hunger worse by driving up the price of the previously stated goods.
The main industries in Africa affected by high diesel prices are those in agriculture, industry, manufacturing, and services (in nations with inadequate electrical infrastructure).
Having said that, GlobalPetrolPrices lists the ten African nations where fuel prices are the highest. The average price of diesel worldwide was $1.23 per liter on June 24, 2024, when the list was last updated.
Billionaire.africa compiled the list of African countries to get cheapest diesel.
| Countries | Diesel price | |
| 1. | Central African Republic | $2.208 |
| 2. | Zimbabwe | $1.610 |
| 3. | Malawi | $1.578 |
| 4. | Sierra Leone | $1.524 |
| 5. | Seychelles | $1.520 |
| 6. | Mozambique | $1.428 |
| 7. | Guinea | $1.396 |
| 8. | Togo | $1.388 |
| 9. | Ethiopia | $1.386 |
| 10. | Uganda | $1.368 |
Dangote makes changes to diesel price
Legit.ng reported that the Dangote Petroleum Refinery has raised the diesel price from N940 per litre to N1,100 due to the slide in the naira’s value against the US dollar.
On April 17, 2024, the refinery reduced the product’s price from N1,200 per litre to N1,000, following marketers' calls for a price slash.
On April 24, 2024, the refinery crashed the diesel and aviation fuel prices to N940 per litre and N980, respectively.
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Source: Legit.ng
