Nigeria and Vietnam have seen the highest increases in fuel pump prices worldwide since the February 28, 2026, war escalation between Iran and the United States-Israel in the Middle East.

 

 

The conflict, which entered its 19th day on Thursday, has led to a surge in crude oil prices, by extension impacting domestic fuel prices across economies.

 

UGAMATV reports that since the Iran-US-Israel conflict, the Gulf region has been in turmoil, leading to disruption in trade in the Strait of Hormuz and Middle Eastern energy facilities.

 

 

Recent data from Investinsight, a United Kingdom-based firm, said Vietnam and Nigeria recorded the highest increase in gasoline prices, with 50 percent and 40 percent hikes, respectively, since the war began.

 

According to the data, Australia, the United States, Singapore, Germany, Spain, Canada, and China trailed behind Vietnam and Nigeria with between 17.2 and 10 percent fuel price hikes within the period under review.

 

 

Meanwhile, Colombia, Brazil, India, and Russia have between -3.1 percent and 0.4 percent hikes in petrol price to pass for the countries with the gasoline price increment, according to Investinsight.

 

UGAMATV reports that in the past 19 days, Nigeria’s fuel price has skyrocketed to between N1,261 and N1,330 per liter in Abuja and environs, up from between N875 and 900 per liter.

 

This represents between a 44 percent and 48 percent fuel price hike.

 

 

The petrol price increment came after Dangote Refinery hiked its gantry petrol price to N1,175 per liter, up from N799 per liter before the war, amid rising crude oil prices, which topped $100 per barrel as Middle East supply collapsed.