#US-Iran conflict

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.

Oil prices fell sharply on Thursday, reaching their lowest levels since the onset of the US-Iran conflict, following an interim agreement between the United States and Iran that alleviated concerns over global crude supply. According to Reuters, Brent crude futures decreased by $1.53.