Kenny Okolugbo, Public Affairs Analyst and Political Communication Strategist, has said petrol prices in Nigeria could have fallen further before the Iran-US war affected developments in the oil market.
Speaking during an interview from 16:23 on TVC News on Monday, September 28, 2026, Okolugbo said some filling stations had already reduced their prices to about N600 per litre before the conflict.
He argued that the disruption caused by the war affected expectations of additional reductions, saying petrol could have sold for between N500 and N700 per litre.
Describing the conflict as another setback for the anticipated price decline, Okolugbo said, “The Iran and US war was another push back on the president because really and truly I’m sure fuel would have come to as low as N600, N700, N500. In fact, some filling stations were already selling for N600 before that war.”