Zimbabwe Ranks Second As Country With Highest Fuel Prices in Africa - Data

ZIMBABWE is ranked the country with the second highest fuel prices on the African continent, recent data shows.

According to data from analytical portal GlobalPetrolPrices, Zimbabwe comes second after Malawi, which has recorded the highest gasoline prices in Africa and the second highest globally, reaching $3.84 (R62,86 at the time of publication) per litre as of last week Monday.

The southeastern African nation also leads the continent in diesel prices, with fuel costing $3.85 per litre. Malawi is second only to Hong Kong globally in both the petrol and diesel rankings.

At the time of publication, the surge in fuel prices due to the escalating United States and Iran conflict in the Middle East placed Zimbabwe in second place at $2.230 per litre, followed by the CAR at $1.874 and Sierra Leone at $1.779. Morocco, Senegal, Rwanda, Mali, Burkina Faso, and Cameroon also rank among the top 10 African countries with the highest fuel prices.

Meanwhile, Zimbabwe has temporarily cut levies on diesel to cushion the impact of rising global energy prices, but this has not helped matters much. The Zimbabwe Energy Regulatory Authority (ZERA) last week announced new retail prices, pegging diesel at US$2, 09 per litre slightly down from US$2, 11 and petrol at US$2,08 from US$2, 23, figures that retain the country as the second most expensive on the continent.

At the other end of the scale, Libya has the lowest fuel prices in Africa, with both petrol and diesel costing just $0.024 per litre. Algeria and Angola are also among the cheapest, where fuel costs approximately $0.33 and $0.36 per litre, respectively.

Countries around the world are grappling with supply disruptions following restrictions in the Strait of Hormuz since the US and Israel launched their war on Iran in late February. The disruption has sent oil prices higher and triggered knock-on effects across global supply chains.

Earlier this month, a joint report by the African Union, the UN Economic Commission for Africa, and the World Bank warned that ongoing disruptions to shipping, energy, and fertilizer supplies could deepen trade shocks and trigger a broader cost-of-living crisis across Africa, driven by rising fuel and food prices.

Read the original article on New Zimbabwe.