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Nigeria sees petrol price hikes as marketers react to rising crude oil costs amid U.S.-Iran tensionsBrent crude oil prices climb following U.S. military strikes against Iranian targets in the Strait of HormuzAnalysts warn that further instability could raise transport costs and living expenses for Nigerians
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Fresh petrol depot prices have emerged across Nigeria as marketers adjust to rising crude oil prices and renewed tensions in the Middle East.
The latest pricing changes come amid growing uncertainty in the global energy market following fresh military exchanges between the United States and Iran near the Strait of Hormuz, one of the world’s most important oil transit routes.
Marketers raise petrol prices at depots as crude oil prices inch upward. Credit: Bloomberg/ContributorSource: Getty Images
Industry data tracked by PetroleumPriceNG and monitored by Legit.ng show that depot owners raised their
