Hopes of fuel price slash in Nigeria rises as global crude rates drop

Global crude lipid prices has dropped by astir 2 percent arsenic the Iran-United States-Israel warfare entered 3 months.

Checks by DAILY POST on Friday showed that Brent and West Texas Intermediate crudes surged by 1.80 percent and 1.87 percent to $87.30 and $91.96 per tube on Friday afternoon.

This comes aft the terms of the crude blends surged concisely between Wednesday and Thursday.

The driblet successful crude lipid terms has further heightened the anticipation of a petroleum merchandise retail terms driblet successful Nigeria.

Recall that the US authorities precocious announced sanctions connected Iran over the Strait of Hormuz, which controls a important percent of the world’s planetary crude shipment.

DAILY POST reports that since February 28, 2026, the Gulf portion has been thrown into situation pursuing the escalation of the struggle betwixt Iran and the US-Israel.

The situation had negatively impacted satellite economies, including Nigeria’s home vigor downstream market. For instance, substance prices successful Nigeria accrued to betwixt N1,345 and N1,365 per liter f...