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Nigeria's fuel prices surge as the US-Israeli war on Iran disrupts global oil markets


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Despite being one of Africa's largest oil producers, Nigeria is experiencing soaring fuel prices driven by global energy volatility linked to the US and Israel's war against Iran.
The Dangote refinery produces 75 million litres of petrol daily—exceeding domestic demand—but disrupted crude supplies and surging global prices have pushed local petrol costs up 50 per cent in the first month of the conflict.
Commercial operators and families are struggling as transport and food prices climb, forcing many to cut back on essential purchases and meals.
The refinery is working to diversify crude sources and develop its own oil production to reduce dependence on volatile international markets.

Al Jazeera's Ahmed Idris reports from Lagos, Nigeria.

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LIVE Nigeria Now — breaking and developing stories Nation — major national news Politics — political developments and affairs Government — federal and state government Elections — elections, voting and campaigns States — news from across Nigeria Naija World — Nigerians and Nigeria in the global community Business — Nigerian business and companies Money & Markets — finance, banking, investments and markets Economy — Nigeria's economy and economic policies Tech — technology and digital innovation AI & Future — artificial intelligence and emerging technologies Science — research, discoveries and innovation Science — research, discoveries and innovation Health — healthcare, medicine and wellness Crime & Security — crime, policing and national security Law & Justice — courts, law and legal affairs Education — schools, universities and education Jobs & Careers — employment, careers and opportunities Real Estate — property, housing and construction Sports — Nigerian and international sports Entertainment — Nollywood, music, film and television Celebrities — Nigerian and international celebrity news Naija Life — lifestyle and everyday Nigerian life Culture & Heritage — Nigerian culture, traditions and history Travel & Tourism — destinations and tourism in Nigeria Food & Dining — Nigerian food, restaurants and culinary culture Weather & Climate — weather, environment and climate Community — people, communities and human-interest stories Community — people, communities and human-interest stories The View — opinions, analysis and editorials Trending — viral and widely discussed stories Other