Despite an average petrol price of about N1,179 per litre, several oil-producing nations continue to sell fuel at far lower prices than Nigeria, largely due to government subsidies, regulated pump prices and domestic energy policies that shield consumers from international oil market fluctuations.
Nigeria, Africa’s largest crude oil producer, does not feature among the 10 countries with the world’s cheapest petrol prices, according to data from Global Petrol Prices.
Unlike these countries, where governments continue to subsidise fuel or maintain price controls, Nigeria has fully deregulated its downstream petroleum sector following the removal of petrol subsidies in 2023.
Based on currency conversions into naira, the 10 countries with the cheapest petrol prices as of June 2026 are:
Libya – N31.94 per litre
