From Uganda to Nigeria to Zimbabwe and Ghana, fuel prices are rising. This is the main problem due to several factors, including shortages.
In the greatly populous country in Africa, Nigeria, gasoline has been short for almost a month. An article by Business Insider Africa stated that Nigeria's fuel shortages started up after the country bought imported fuel. Actions by the West African National Energy Agency (NNPC) to clear up contaminated products on the market have resulted in shortages. Since then, advertisers have been involved in fundraising and profit-making.
Interestingly, despite the increase in prices in Nigeria, this country is not among the most expensive per liter in Africa- because the Nigerian Government is heavily funded. Furthermore, the increase in fuel costs in Africa is also due to Russia's ongoing invasion of Ukraine. Therefore, the conflict can further have an even greater impact on electricity prices in Africa.
As per the DW, fears of a possible reduction in Russia's pollution are another component that has contributed to rising global energy costs. As Russia is the world's main leading producer. If the US or EU countries agree to extend Russia's growing economic sanctions by prohibiting its oil, it could signal a global energy industry crisis.
The global oil prices have already exceeded $ 100 per barrel, as documented in 2014. This property currently trades at $ 102.6 per barrel, according to the average price of Brent Crude. Since moving forward with the 10 African countries with the increased fuel prices, it is significant to note that the main cause of rising energy costs in Africa is that almost all African oil-producing countries have ceased to function to improve capacity to improve the product in place.
Below are 10 African countries with the most increased fuel prices. The list is by Global Petrol Prices.
Zimbabwe: Zimbabwe has one of the highest fuel levels in Africa. A liter of gasoline costs about $ 2.153. Zimbabwe is not producing oil, although there have been clashing reports about discovering crude oil in Northern Zimbabwe in 2018.
Seychelles: It is the 2nd most expensive fuel in Africa. According to our information, a liter of petrol in the country sells for $ 1.541. The country currently does not generate any oil or gas, although some worldwide oil companies are actively exploring potential oil offshore.
Malawi: In Malawi, it costs $ 1,426 to purchase a liter of gasoline. This country is declared to have high hopes of finding crude oil resources in Lake Malawi.
South Africa: A liter of petrol costs $ 1.413 here. In 2019, Total Energies declared that it had received a large amount of gas condensate at one of its testing facilities in South Africa.
Uganda: In this country, a liter of gasoline expenses $ 1,389. The high price of petrol in Uganda despite the country's oil production.
Mauritius: The country ranks sixth in the price of Africa's most expensive fuel at $ 1.381 a liter. It doesn’t currently generate oil, although the hopes are high.
Burundi: A liter of gasoline costs $ 1,340. As per the UN's Environmental Program, it doesn't have the resources for natural gas or crude oil.
Senegal: In this country, a liter of gasoline costs $ 1,299. This country accepted crude oil deposits between 2014 and 2017.
Lesotho: In this country, a liter of gasoline costs $ 1.231. This country doesn't consist of guaranteed oil deposits.
Rwanda: A liter of gasoline costs $ 1.230 here. This country doesn't generate crude oil.