Energy analysts have cautioned that continued tensions between the United States and Iran could drive up global crude oil prices, with ripple effects on Nigeria’s domestic fuel market. Market volatility has already been observed as investors react to uncertainty in oil supply routes.
Although Nigeria is an oil-producing nation, its fuel pricing remains sensitive to international market trends. Experts say that any sustained rise in crude prices may lead to higher petrol and diesel costs locally, potentially increasing transportation fares and the overall cost of living.
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