Africa’s Cheapest Petrol Markets Revealed as Oil-Producing Nations Maintain Low Pump Prices

BY UCHECHI OKPORIE

Several oil-producing nations dominate the list of African countries with the lowest fuel prices in March 2026, highlighting the advantage enjoyed by energy-rich states as global oil markets remain volatile.

According to new data compiled by GlobalPetrolPrices and reported by Business Insider Africa, Libya continues to offer the cheapest petrol on the continent, with extremely low pump prices largely sustained by heavy government subsidies and domestic oil production.

Other countries with relatively low fuel prices include Angola, Algeria, Egypt, and Nigeria, reflecting a broader trend in which oil-producing economies or countries with strong subsidy policies maintain cheaper domestic fuel costs.

The ranking also includes Sudan, Ethiopia, Liberia, Tunisia, and Niger, showing how government pricing policies and domestic energy resources play a key role in shaping fuel affordability across the continent.

Experts say the gap between Africa’s cheapest and most expensive fuel markets has widened as global energy prices remain unstable. Many African countries rely heavily on imported refined fuel, making them vulnerable to international market shocks and currency fluctuations.

As global oil prices face renewed pressure from geopolitical tensions and supply disruptions, analysts warn that maintaining low pump prices through subsidies may become increasingly difficult for many governments across the region.