The war in Iran has sparked an increment in the prices of petrol in Nigeria, rising to record levels, raising fears of inflation as the conflict in the Middle East escalates.
JESNews correspondent witnessed widespread surge in petrol prices, with increases of up to N100 per litre in many areas.
In Lagos, prices at MRS filling stations in Festac and Ikorodu jumped from N1,232 per litre to N1,332 per litre.
Also, TotalEnergies stations in Festac and along the Apapa/Oshodi Expressway raised their prices from N1,250 to N1,332 per litre, while the Abule Egba outlet adjusted its price to N1,329 per litre.
At NNPC retail outlets on Ago Palace Way and Apple Junction, petrol prices climbed from N1,230 to N1,330 per litre.
In Abuja, station under the NNPC chain raised their prices from N1,260 to N1,361 per litre, while Shafa filling station, near the Dunamis Headquarters along Airport Road raised its price to N1,370 per litre.
The pump price narrative reflects the aggressive volatility in the global crude oil market since the conflict began in the Middle East.
The US-Iran war has disrupted world crude oil supply, with heightened tensions and security concerns forcing major shipping operators to suspend movements along key routes such as the Strait of Hormuz and the Suez Canal.
On March 19, crude oil prices rose to $114.08 per barrel, highest since May 2022.
Prices of petrol in Nigeria have shot up sharply since the war in Iran started, driving a corresponding increment in transport costs.
