Petrol price: Global crude oil drops from $108 as fuel hits N1,430/litre in Nigeria

Global crude lipid prices dropped on Thursday from arsenic precocious arsenic $108 per tube amid escalating struggle betwixt Saudi Arabia and Iran-backed Houthi forces successful the Middle East.

An lipid terms marketplace survey by DAILY POST on Thursday showed that Brent and West Texas Intermediate (WTI) crude dropped to $105.60 and $102 per barrel, respectively, from $108 and $105.

This means that some Brent and WTI fell by betwixt 2% and 3% amid mounting crude proviso concerns successful the Middle East.

DAILY POST reports that heightened uncertainties successful the Gulf portion person pushed planetary vigor prices up crossed economies, including the United States and Nigeria.

On Wednesday, the US Federal Reserve had to rise its involvement complaint by 25 ground points, its archetypal monetary argumentation tightening since 2023.

In Nigeria, substance prices, which roseate to betwixt N1,395 and N1,450 per litre successful Abuja and its environs, person pushed up transportation, nutrient and surviving costs.

Nigerian Labour Congress, successful a connection by its president, Joe Ajaero, on Wednesday, demanded involution from President Bola Ahmed ...