Wahala for US and Iran fit make fuel price for Nigeria jump again
Experts talk say if di fight continue especially for di dangerous Strait of Hormuz, price of crude for world go just fly up.
According to experts and pipo wey dey inside oil business, if price of crude oil for international market reach $90 per barrel because of dis fight, Nigerians go soon dey buy petrol and diesel with new expensive price.
Di war for Middle East don already make di world oil market shake, and pipo dey fear say even as Nigeria dey try to refine im own fuel, di price wey dem go buy fit still rise.
As of now, petrol dey sell between N824 and N880 per litre depending on where you dey, how much dem carry am reach, and di marketer wey dey sell. Dis one happen after Dangote refinery adjust price downward for February 2026, but di US-Iran matter don scatter tings again.
Experts talk say if di fight continue especially for di dangerous Strait of Hormuz, price of crude for world go just fly up. Dem say di war don already add "risk premium" to market, wey mean say buyers dey ready to pay more because of fear.
For weekend, crude oil price jump nearly 10% because many big oil companies stop dia tanker from passing through dat Hormuz area, one important road wey dey carry plenty oil go di world.
If dis road block, e fit cause serious wahala for supply, and price go just sky rocket. As of last night, Brent crude sell for $72.87, West Texas Intermediate $67.02, and Nigeria Bonny Light reach $78.62 per barrel.
Analysts warn say if dis crisis worsen, price fit hit $90 barrel, and by dat time, Nigerian consumers go feel am for dia pocket.