With global oil price instability and economic uncertainty, inexpensive gasoline remains a critical component of economic stability, social welfare, and sustainable development across the continent.

It's no secret that low fuel prices help firms reduce operational expenses, especially in areas such as manufacturing, logistics, and agriculture.

This decrease not only enhances profit margins, but it also promotes investing and expansion, so promoting economic development.

For consumers, inexpensive gasoline means lower transportation and product expenses, which increases disposable income and stimulates demand across a variety of businesses.

Furthermore, lower fuel prices reduce financial constraints, allowing families to devote more money to critical necessities like education, healthcare, and nutrition.

This increase in living standards benefits overall social welfare and decreases poverty rates.

African countries with low fuel prices are those categorized under oil-producing nations, or those that have fuel subsidies or other economic policies that help cushion their market against external factors.

There are also countries that benefit from having local refineries.

These countries continue to do a good job in implementing policies and maximizing the resources they have to the best of their abilities.

While this is not entirely the case, as some oil-producing countries such as Libya boast fuel prices that rival water prices, and some produce oil but keep experincing increasing fuel prices, there is no denying that Africa has a list of 10-12 countries that consistently boast the lowest prices of fuel on the continent.

With that said, here are the 10 African countries with the lowest fuel prices in May, according to data from Global Petrolprices.

Compared to the , when the global average was 1.27 Dollars per liter, compared to 1.25 Dollars per liter, this month, fuel prices for Algeria, Nigeria, and Tunisia reduced slightly.

While prices for Egypt, Liberia, and Ethiopia increased in May.

Libya, Angola, and Sudan retained their fuel prices for the second month in a row, while Gabon ousted Lesotho for the 10th spot on the current list.