Petrol Hits N1,280/Litre In Lagos Amid U.S.–Israel–Iran War

The price of Premium Motor Spirit (PMS), popularly known as petrol, rose to as high as N1,280 per litre in Lagos State on Tuesday.

THE WHISTLER‘s correspondent monitored the price of the product and observed that a litre of petrol sold for between N1,220 and N1,280 at filling stations owned by both major marketers and independent marketers.

At Mobil, located in the Abule-Egba area of Lagos, petrol sold for N1,235 per litre, while diesel sold for N1,650 per litre.

At AP near Ahmadiyya, petrol sold for N1,280 per litre, while the same product sold for N1,237 per litre at MRS in Agege, close to the underbridge.

Similarly, petrol sold for N1,275 per litre at Robot Energy in Ajegunle and N1,225 per litre at Heyden. At an NNPC station in the Abule-Egba area, the product sold for N1,230 per litre.

The development followed an increase in the gantry price of petrol by Dangote Petroleum Refinery on Monday to N1,175 per litre.

The adjustment marked the third upward review within a week.

The increase represented a jump of about N180, or roughly 18.1 per cent, within three days. In addition to petrol, the refinery also reviewed the gantry price of Automotive Gas Oil (AGO), commonly known as diesel, to N1,620 per litre.

Meanwhile, crude oil prices surpassed $110 per barrel on Monday, reaching levels last seen in 2022 amid escalating tensions linked to the Iran war and its impact on global energy supply.

The war between the United States, Israel and Iran began on February 28, 2026, with coordinated airstrikes targeting Iranian missile infrastructure, military sites and leadership.

The operation, reportedly ordered by U.S. President Donald Trump and carried out with Israel, followed failed negotiations and led to the death of Iranian Supreme Leader Ayatollah Ali Khamenei.

Tensions escalated further as Iran announced on Tuesday that Arab and European countries that expel the ambassadors of the United States and Israel would be granted free passage through the strategic Strait of Hormuz.

In a statement, the Islamic Revolutionary Guard Corps said countries that distance themselves diplomatically from the United States and Israel would be allowed safe navigation through the vital maritime route, a key channel for global oil shipments.

Approximately 20 to 30 per cent of global oil and liquefied natural gas (LNG) consumption passes through the Strait of Hormuz daily. The narrow waterway, located between Iran and Oman, handles about 20 million barrels of oil per day.

Despite the rise in petrol prices, transportation fares in Lagos were yet to fully reflect the increase.

For instance, a trip from Toll Gate to Agege costs between N700 and N800, while commuters pay about N1,200 for a journey from Oshodi to Toll Gate.