Libya, Angola and Algeria have emerged as the African countries with the cheapest petrol prices in August 2026, with pump prices in the three oil-producing nations significantly below the global average.
Data from Global Petrol Prices, updated on August 3, 2026, showed that Libya had Africa’s lowest average retail price for octane-95 gasoline at just $0.024 per litre.
Angola ranked second at $0.327 per litre, while Algeria came third at $0.35 per litre.
The wide differences in petrol prices across African countries reflect variations in fuel subsidies, taxation, exchange rates, crude oil production, refining capacity and government regulation of downstream petroleum markets.
Global Petrol Prices tracks retail energy prices across more than 150 countries and 250 cities, providing comparative data on gasoline and diesel prices.
The latest figures show that the 10 African countries with the cheapest petrol prices are predominantly oil-producing or fuel-subsidising countries, although the level of government intervention varies significantly.
Ethiopia ranked 10th, with petrol selling for approximately $1.048 per litre, equivalent to 167.5 Ethiopian birr per litre.
The figure was below the reported global average of 241.74 birr per litre.
Unlike most countries on the list, Ethiopia is not a major crude oil producer. Its relatively low ranking therefore reflects domestic fuel-pricing policies, market regulation and other factors rather than substantial domestic crude production.
Gabon ranked ninth, with petrol priced at approximately $1.046 per litre.
The reported price of octane-95 gasoline stood at 595 CFA francs per litre, compared with a global average of about 860.56 CFA francs.
As an oil-producing country, Gabon has historically maintained significant government involvement in domestic fuel pricing, helping keep pump prices below international levels.
Nigeria ranked eighth, with octane-95 gasoline selling at approximately $0.931 per litre.
Global Petrol Prices reported the Nigerian pump price at N1,270 per litre, equivalent to about $3.52 per gallon.
Nigeria’s position is notable given its status as Africa’s largest oil producer and its transition away from the long-standing petrol subsidy regime.
The country’s petrol market has undergone major changes since the removal of the subsidy in 2023, with pump prices increasingly influenced by crude oil prices, exchange rates, logistics costs and domestic refining economics.
The expansion of large-scale domestic refining capacity has also changed Nigeria’s downstream petroleum market, reducing its traditional dependence on imported refined products.
Niger ranked seventh, with petrol priced at approximately $0.879 per litre.
The reported price of octane-95 gasoline stood at 499 West African CFA francs per litre, significantly below the global average of about 858.25 CFA francs.
Niger is an oil-producing country, although its petroleum industry and domestic fuel market remain considerably smaller than those of major producers such as Libya, Algeria, Angola and Nigeria.
Tunisia ranked sixth, with petrol selling for approximately $0.86 per litre.
The price of octane-95 gasoline was reported at 2.53 Tunisian dinars per litre.
The relatively low price reflects continued government involvement in the country’s petroleum market and fuel-pricing mechanism.
Sudan ranked fifth, with petrol priced at approximately $0.70 per litre.
The price of octane-95 gasoline stood at 630 Sudanese pounds per litre, equivalent to about $2.65 per gallon.
Sudan’s fuel market has been heavily affected by economic instability, currency pressures and disruptions linked to the country’s prolonged conflict.
Egypt ranked fourth, with petrol selling for approximately $0.48 per litre.
The reported price stood at 24 Egyptian pounds per litre as of August 3, 2026.
Egypt has in recent years moved towards reducing fuel subsidies as part of broader economic reforms, resulting in periodic increases in petrol prices.
Algeria recorded Africa’s third-cheapest petrol price at $0.35 per litre.
The price of octane-95 gasoline was 47 Algerian dinars per litre, according to data updated on August 3.
Algeria’s low petrol price is supported by its position as a major oil and gas producer and the government’s long-standing policy of keeping domestic energy prices below international levels.
Angola ranked second, with petrol selling for approximately $0.327 per litre.
Global Petrol Prices put the local pump price at 300 Angolan kwanza per litre, equivalent to about $1.238 per gallon.
Angola is one of sub-Saharan Africa’s major crude oil producers, although its downstream petroleum market has undergone significant reforms in recent years.
The country has been gradually adjusting fuel prices and reducing the fiscal burden associated with fuel subsidies as the government seeks to strengthen public finances and redirect resources towards other areas of the economy.
Libya recorded the cheapest petrol price in Africa and one of the lowest prices globally at just $0.024 per litre.
The price of octane-95 gasoline was reported at 0.15 Libyan dinar per litre, equivalent to about $0.091 per US gallon.
Libya’s position reflects its large crude oil reserves and extensive state involvement in the petroleum sector, which keeps domestic pump prices far below international market levels.
The extremely low retail price also means that the amount paid by consumers at the pump bears little relationship to the international market value of the underlying petroleum product.
The African fuel-price rankings come as international crude markets remain sensitive to geopolitical developments.
Brent crude was trading around $83 per barrel on August 7, with investors closely monitoring developments surrounding the Strait of Hormuz and negotiations involving Iran and Oman.
The Strait of Hormuz remains critical to global energy markets because disruptions to shipping through the corridor can affect crude oil and refined petroleum supplies and trigger significant changes in international oil prices.
The relatively high crude price environment could place additional fiscal pressure on countries that subsidise petrol or regulate pump prices below market levels.
However, crude oil prices alone do not determine what consumers pay at the pump.
Countries with large domestic oil reserves can maintain lower petrol prices by relying on domestic crude production, refining capacity or government-controlled pricing mechanisms.
Fuel taxation is another major factor. Countries that impose substantial taxes and levies on petroleum products generally record higher retail prices, while governments that subsidise consumption or maintain lower taxes tend to have cheaper petrol.
Exchange-rate movements also influence the dollar value of domestic fuel prices. A depreciation in a country’s currency can increase the local cost of imported fuel even when international crude prices remain stable.
For oil-importing countries, the cost of importing refined products, freight, insurance and distribution can further increase pump prices.
Nigeria’s eighth-place ranking is particularly notable because the country no longer operates the broad petrol subsidy regime that kept pump prices artificially low for many years.
The reported N1,270 per litre price puts Nigeria below several other African oil producers, including Gabon, despite significant changes in its downstream petroleum market.
The expansion of domestic refining capacity is increasingly important to Nigeria’s fuel-price outlook because locally refined petrol can reduce exposure to international refined-product prices, shipping costs and foreign exchange pressures.
However, domestic refining does not automatically guarantee lower pump prices, as the final retail cost remains influenced by crude feedstock prices, operating costs, distribution expenses, taxes, margins and exchange rates.
