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Nigeria fails to make global list of countries with the cheapest petrol despite being a major oil producerLibya leads globally with petrol priced at just $0.024 per litre, supported by generous subsidiesCountries are shifting towards market-driven pricing as Nigeria grapples with fluctuating fuel costs post-subsidy
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria is absent from the list of countries with the world’s cheapest petrol, as a new global ranking highlights how government subsidies, strong refining capacity and state-controlled pricing continue to keep fuel costs low in several oil-producing nations.
According to the latest data released by GlobalPetrolPrices.com, Libya remains the cheapest country in the world to buy petrol, with motorists paying just $0.024 per litre, while other oil-rich nations such as Iran, Venezuela, Kuwait and Saudi Arabia also feature prominently among the top 10.
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