Africa: petrol price index 2023

In the first half of 2023, South Africa ranked highest in the petrol price index. On average, South Africans were able to buy 968 liters per month using their salaries. Algeria followed, with 792 liters per month. On the other hand, Ghana and Nigeria came last, with 187 and 172 liters per month, respectively.
It is worth pointing out that petrol prices on the continent varied significantly. For instance, the price of a liter of petrol in Mauritius cost 1.62 U.S. dollars per liter compared to only 0.34 dollars per liter in Algeria.

Petrol price index in relation to salaries in selected countries in Africa in 2023

Characteristic	Petrol price index
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Release date

July 2023

More information

Region

Africa

Survey time period

January to June 2023

Supplementary notes

The source reports that: "Petrol Index is an annual ranking of the relation between petrol prices and salaries conducted by Picodi.com since 2019."
According to the source the methodology is: "In this study, the source used the latest average wage data published by national statistics offices or relevant ministries. In countries where such data is not published, we used statistics from Numbeo. The average petrol prices in 104 countries in the first half of 2023 were taken from GlobalPetrolPrices.com and other local sources. The difference between prices in June and January was calculated in local currencies. In order to calculate the “Petrol Index”, we divided the average net wage (obtained through local wage calculators) by an average price of a litre of petrol in June. For currency conversion, we used the average exchange rate data from Google Finance for June 2023."

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