Libya, Angola, Algeria top Africa's cheapest petrol list for August 2026
By Aboki Forex —
Libya, Angola and Algeria have the cheapest petrol in Africa for August 2026, according to data from Global Petrol Prices updated on August 3, 2026. Libya leads the continent at $0.024 per litre for octane-95 gasoline, followed by Angola at $0.327 and Algeria at $0.35.
The price gap across African countries reflects differences in fuel subsidies, taxation, exchange rates, crude oil production, refining capacity and government regulation of downstream petroleum markets. Global Petrol Prices tracks retail energy costs in more than 150 countries and over 250 cities.
Full ranking of the 10 cheapest countries
The latest figures show the top 10 are mostly oil-producing or fuel-subsidising nations, though government intervention varies sharply.
10. Ethiopia — $1.048 per litre (167.5 birr). That is well below the global average of 241.74 birr per litre. Ethiopia is not a major crude producer, so its ranking reflects pricing policy and regulation.
9. Gabon — $1.046 per litre (595 CFA francs). The global average is 860.56 CFA francs. Gabon produces oil and keeps strong state involvement in fuel pricing.
8. Nigeria — $0.931 per litre (N1,270, or about $3.52 per gallon). Africa's largest oil producer has shifted away from its old subsidy regime since 2023. Pump prices now depend more on crude prices, exchange rates, logistics and domestic refining, with new large-scale refineries changing the market structure.
7. Niger — $0.879 per litre (499 CFA francs). That is below the global average of 858.25 CFA francs. Niger produces oil but has a much smaller fuel market than Libya, Angola, Algeria or Nigeria.
6. Tunisia — $0.86 per litre (2.53 Tunisian dinars). Historical data show an average of 2.18 dinars, with a range of 1.60 to 2.53 dinars. Continued government involvement keeps prices low.
5. Sudan — $0.70 per litre (630 Sudanese pounds, or about $2.65 per gallon). Sudan's fuel market faces economic instability, currency pressures and conflict disruptions, yet pump prices remain far below the global average.
4. Egypt — $0.48 per litre (24 Egyptian pounds as of August 3, 2026). That is the highest reported price for Egypt, first reached in March 2026. Egypt is a net importer of some petroleum products and has been cutting fuel subsidies gradually.
3. Algeria — $0.35 per litre (47 Algerian dinars). The price is unchanged from one and three months ago, but 2.2% higher than a year earlier, when it was 45.97 dinars per litre.
2. Angola — $0.327 per litre. Angola is the second-cheapest on the continent.
1. Libya — $0.024 per litre. Libya has the lowest average retail price for octane-95 gasoline in Africa.
What this means for Nigeria
Nigeria's position at $0.931 per litre is still substantially below the global average, but the country is no longer shielded by subsidy payments. With the naira and crude prices now driving pump costs, future retail petrol prices will track market forces more directly than before, making exchange rate stability a key factor for consumers and businesses.