Global oil prices have decreased to levels not seen since before the US-Iran war, leading to expectations for lower petrol prices, according to Daily Trust. Despite this drop, fuel prices in Nigeria continue to exceed N1,000, raising concerns about the slow transmission of global market changes to local consumers and businesses.

Despite a decline in global oil prices to levels seen before the US-Iran conflict, petrol prices in Nigeria remain high, leading to rising expectations among the public for a decrease in local fuel costs, according to Naija News.

Fuel prices have decreased, providing relief for motorists and paraffin users, attributed to lower global oil prices and a stronger rand against the US dollar, according to SABC Business.

In July, Tanzanian motorists and households will benefit from a slight decrease in fuel prices, attributed to a ceasefire in the Middle East. However, despite this reduction, fuel costs remain considerably higher than levels recorded before the crisis, according to The Chanzo.

The Kenyan government has announced a Ksh 21.5 billion plan to stabilize fuel prices amid global oil market uncertainties. President William Ruto revealed this intervention on Tuesday while signing the Finance Bill 2026, aiming to prevent sharp increases in pump prices for Kenyans in the upcoming months.

Depot prices for Premium Motor Spirit (PMS), or petrol, have decreased across various terminals in Lagos, with Rain Oil leading the reduction by cutting prices by N18 per litre. Additionally, diesel prices have also seen a significant drop, falling by up to N70 per litre. This adjustment in prices comes as petroleum marketers respond to changing supply dynamics in Nigeria's downstream oil market, according to Vanguard Business.