Nigeria, March 6 -- The Dangote Petroleum Refinery has explained the reason behind the recent N100 increase in the ex-depot price of petrol from its facility, which occurred amid the escalating conflict involving the United States, Israel and Iran.

The refinery attributed the price adjustment to rising global crude oil prices and supply disruptions in the international market caused by the war.

Since the war broke out, Brent crude oil prices have experienced significant increases and fluctuations following the closure of the Strait of Hormuz.

The Strait is the waterway through which about half of the world's crude oil and condensates are exported. However, shipment and trucking of products have been halted due to the ongoing war across...