Fuel price: Global oil prices climb to over 4 per cent 

Global crude lipid prices rallied sharply connected Friday, with some Brent and West Texas Intermediate, WTI, soaring by much than 4 percent.

Market information showed that Brent crude roseate 4.19 per cent to $87.76 per barrel, portion WTI crude precocious 4.12 per cent to $82.20 per barrel.

The beardown rebound pushed Brent person to the $90-per-barrel mark, portion WTI climbed supra the $82 level arsenic tensions intensified successful the Middle East, slowing postulation done the Strait of Hormuz.

The latest summation successful crude prices could person implications for home markets, arsenic higher planetary lipid prices often construe into accrued costs for refined petroleum products.

DAILY POST reports that depot owners and petroleum merchandise marketers successful Nigeria had already accrued prices by betwixt N40 and N120 per litre connected Thursday.

Depot owners raised their prices to betwixt N1,175 and N1,220 per litre from astir N1,090 per litre past week.

Similarly, petroleum marketers operating successful Abuja and its environs have adjusted their petrol price to astir N1,220 per litre from arsenic debased arsenic N1,170 per litre....