Petrol prices hitting ₦1,200–₦1,300 per litre shows how exposed Nigeria still is to global shocks. Even as a major oil producer, the reliance on imported refined fuel ties domestic prices to crude markets. If the Iran conflict continues, ₦1,500 isn’t impossible. Stabilizing prices would require the government to accelerate local refining, strengthen strategic reserves, and reduce distribution inefficiencies. How’s everyone adjusting their budgets or transport plans with these new fuel costs?
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