Nigeria Missing On List Of Countries With Highest Fuel Costs After Dangote Crashed Price
- Several African nations saw monthly fuel costs rise in parallel with the global average fuel price as a result of shifts in the global oil market
- Almost every industry is impacted by these rising costs, from agriculture to transportation, which exacerbates economic suffering and raises inflation
- According to a new report, the Central African Republic tops the list of countries with the highest fuel costs followed by Senegal, Zimbabwe, Malawi and others
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The monthly fuel prices in a number of African countries increased in tandem with the worldwide average fuel price due to changes in the global oil market, currency devaluation, and decreases in subsidies.
These growing expenses affect practically every industry, from transportation to agriculture, which intensifies economic hardship and increases inflation.
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An increase in the cost of living is among the most evident effects of rising gas prices.
Expensive fuel contributes significantly to inflation when businesses adjust prices to compensate for rising production and transportation costs.
In countries like Nigeria, where inflation has been a major problem, rising gas prices exacerbate economic instability.
As a result, households are burdened with more debt, which reduces their disposable income and slows down the economy as a whole.
As the cost of shipping both raw materials and completed goods rises, businesses are forced to either absorb the costs, which lowers their profit margins or pass them on to customers, which raises the price of the items.
Additionally, because many African businesses depend on fuel-powered generators because of the unreliable energy supply, small businesses are especially vulnerable.
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According to Globalpetrolprices, these ten African nations had the highest fuel costs in March 2025.
When the data was last updated on March 10, 2025, the average price of gasoline worldwide was 1.26 USD per litre, which was higher than the previous month's price of 1.25 USD per litre.
Fuel prices increased in the Central Africa Republic, Senegal, Zimbabwe, Malawi, Seychelles, and Ivory Coast as compared to the top 10 list for February 2025.
Business Insider reported that the fact that none of the other nations on the list—including Morocco, Cameroon, Cape Verde, and Burkina Faso—made the top 10 list last month indicates that energy prices are rising in a number of African nations.
| Rank | Country | Fuel price | Global rank |
| 1. | Central Africa Republic | $1.819 | 22nd |
| 2. | Senegal | $1.632 | 36th |
| 3. | Zimbabwe | $1.540 | 47th |
| 4. | Malawi | $1.459 | 52nd |
| 5. | Seychelles | $1.455 | 53rd |
| 6. | Ivory Coast | $1.443 | 56th |
| 7. | Burkina Faso | $1.401 | 59th |
| 8. | Cape Verde | $1.397 | 60th |
| 9. | Morocco | $1.391 | 61st |
| 10. | Cameroon | $1.389 | 62nd |
Dangote refinery crashes petrol prices again
Legit.ng reported that by covertly reducing the PMS price at its loading gantry on Thursday, March 13, 2025, the Dangote Refinery intensified the battle over gasoline prices. The massive refinery caused the price of gasoline to plummet from N825 to N815 per liter.
The change occurred on Thursday, March 13, 2025, when the plant unveiled a new pricing system.
As they have started to source items directly from the Dangote Refinery and avoid private warehouses, marketers reportedly expressed optimism at the new price.
Proofreading by Nkem Ikeke, copy editor at Legit.ng.
