Iran War: Petrol prices rise to N1,330/litre in Nigeria

2026-03-23 - 14:33

Petrol prices have surged to record levels across Nigeria, stoking fresh inflation fears as the ongoing US-Iran conflict continues to disrupt global crude oil supply chains. Vanguard checks on Monday revealed widespread price increases at filling stations across multiple states. In Lagos, MRS stations in Festac and Ikorodu raised prices to N1,332 per litre, while NNPC outlets on Ago Palace Way and Apple Junction climbed to N1,330 per litre. In Abuja, NNPC stations raised prices to N1,361 per litre, with Shafa filling station near the Dunamis Headquarters charging N1,370. Prices in Kaduna reached N1,371 per litre at Rano filling station, while increases were equally recorded in Akure, Ogun State, and other locations nationwide. The surge follows a sharp rise in global crude oil prices driven by the US-Iran war, which has forced major shipping operators to suspend movements along the Strait of Hormuz and the Suez Canal — two critical arteries for global oil trade. On March 19, crude oil climbed to $114.08 per barrel, its highest level since May 2022. Vanguard News