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Nigeria sees fresh petrol price hikes amid Middle East tensions impacting the global oil marketDepot petrol prices rise by an average of 0.46% across major Nigerian depotsAnalysts warn of continued price increases if geopolitical crises persist, risking higher transportation costs
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Fresh petrol prices have emerged across major depots in Nigeria as marketers adjusted rates upward in response to growing uncertainty in the global oil market following renewed hostilities in the Middle East.
The latest pricing released on Friday, July 10, 2026, shows that several depot operators have increased the ex-depot cost of Premium Motor Spirit (PMS), popularly known as petrol, amid concerns that escalating tensions between the United States and Iran could disrupt global crude oil supplies.
Depot operators increase petrol prices nationwide amid a rise in crude costs. Credit: NurPhoto/ContributorSource: Getty Images
Industry observers say
