PETROAN warns Nigeria petrol prices could surge due to Middle East tensions
PETROAN, Nigeria's oil marketers association, has warned that ongoing US-Iran-Israel military confrontations could disrupt petrol supply and push pump prices higher. The association's National President, Dr. Billy Gillis-Harry, cited escalating geopolitical tensions in the Middle East as already affecting global energy markets and Nigeria's petroleum sector. If crude oil prices exceed USD 100 per barrel due to sustained conflict, Nigeria's retail outlets could see significant price increases. PETROAN called for urgent refinery consolidation, domestic capacity restoration, and strategic energy security measures to mitigate impacts on consumers and the economy.