Iran fires missiles at Israel as Trump vows to 'send Iran back to Stone Ages'

Iran has launched missile attacks on Tel Aviv in retaliation for US-Israeli strikes, following President Donald Trump's prime-time address where he vowed to bomb Iran "back to the Stone Ages" over the next two to three weeks if no deal is reached. The conflict, which began with US-Israeli strikes on Iran on February 28, has now spread across the Middle East, disrupting global oil supply chains and pushing fuel prices upward worldwide. The Strait of Hormuz—through which one-fifth of global oil normally passes—remains effectively closed by Iranian forces, creating ripple effects from Chinese airlines raising fuel surcharges to fuel queues appearing in Bhutan. For Nigerians, the key impact is on imported refined petroleum costs; global oil price spikes directly affect local fuel prices, transportation costs, and inflation. The World Bank has expressed "extreme concern" about the war's impact on global inflation and food security. Oil prices surged and global stocks tumbled following Trump's speech, signaling prolonged market volatility. Analysts warn that markets view "unfinished business" as "oxygen for volatility."

Will this conflict further increase fuel costs at Nigerian pumps, and should you expect transportation fare hikes or adjust household budgets for potential price volatility?

SOURCE: https://www.channelstv.com/2026/04/02/iran-vows-crushing-attacks-on-us-after-trump-threats/