Report lists countries with highest fuel price, Nigeria missing

• Several African nations saw monthly substance costs emergence successful parallel with the planetary mean substance terms arsenic a effect of shifts successful the planetary lipid market
• Almost each manufacture is impacted by these rising costs, from agriculture to transportation, which exacerbates economical suffering and raises inflation
• According to the report, Central Africa Republic tops the database followed by Senegal, Zimbabwe, Malawi and others

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The monthly substance prices successful a fig of African countries accrued successful tandem with the worldwide mean substance terms owed to changes successful the planetary lipid market, currency devaluation, and decreases successful subsidies.

One of the astir evident consequences of rising state prices is an summation successful the outgo of living. Photo Credit: Dangote Group, Contributor
Source: Getty Images

These increasing expenses impact practically each industry, from proscription to agriculture, which intensifies economical hardship and increases inflation.

An summation successful the outgo of surviving is among the astir evident effects of rising state prices.

Expensive substance contributes importantly to inflation erstwhile businesses set prices to compensate for rising accumulation and proscription costs.

In countries similar Nigeria, wherever ostentation has been a large problem, rising state prices exacerbate economical instability.

As a result, households are burdened with much debt, which reduces their disposable income and slows down the economy arsenic a whole.

As the outgo of shipping some earthy materials and completed goods rises, businesses are forced to either sorb the costs, which lowers their nett margins, oregon walk them connected to customers, which raises the terms of the items.

Additionally, due to the fact that galore African businesses beryllium connected fuel-powered generators due to the fact that of the unreliable energy supply, tiny businesses are particularly vulnerable.

According to Globalpetrolprices, these 10 African nations had the highest substance costs successful March 2025.

When the information was past updated connected March 10, 2025, the mean terms of gasoline worldwide was 1.26 USD per litre, which was higher than the erstwhile month's terms of 1.25 USD per litre.

Ten African nations had the highest substance costs successful March 2025. Photo Credit: Contributor
Source: Getty Images

Fuel prices accrued successful the Central Africa Republic, Senegal, Zimbabwe, Malawi, Seychelles, and Ivory Coast arsenic compared to the apical 10 database for February 2025.

Business Insider reported that the information that nary of the different nations connected the list—including Morocco, Cameroon, Cape Verde, and Burkina Faso—made the apical 10 database past period indicates that vigor prices are rising successful a fig of African nations.

Dangote refinery crashes petrol prices again

Legit.ng reported that On Thursday, March 13, 2025, the Dangote Refinery escalated the petrol terms warfare by softly lowering the PMS terms astatine its loading gantry. The elephantine refinery crashed petrol prices from N825 per litre to N815.

The improvement came arsenic the works introduced a caller pricing operation connected Thursday, March 13, 2025.

According to reports, marketers expressed optimism astatine the caller terms arsenic they person begun to boycott backstage depots and commencement sourcing products straight from the Dangote Refinery.

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Source: Legit.ng