Hormuz Closure: Freight Costs, Fuel Prices, Inflation May Rise, Maritime Experts Warn

Nigerians may soon face higher pump prices for Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO), alongside rising inflation following escalating tensions around the Strait of Hormuz, one of the world’s most critical oil transit routes. The development followed a declaration by Iran’s Islamic Revolutionary Guard Corps (IRGC) warning that the strategic waterway could […]

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