Oil price hit highest since 2022. Fuel price go increase again?

Oil prices don rise to di highest since 2022.

Dis dey come afta one report say di US military ready to brief President Donald Trump on new plans for potential action for di Iran war.

US Central Command don prepare plan for one wave of "short and powerful" strikes on Iran to try break di deadlock for negotiations wit Tehran, news site Axios report.

BBC don contact US Central Command plus di White House for comment.

Brent crude rise by almost 7% to more dan $126 (£94) a barrel at a point, di highest since Russia full-scale invasion of Ukraine.

Energy prices don go up dis week as e be like say dem don pause peace talks, and di important Strait of Hormuz waterway still dey effectively closed.

Afta e reach $126.31 a barrel at one point for Asian trade, di price of Brent crude bin fall back to around $122 in early trade for Europe.

Fuel price go increase again?

Crude oil na key ingredient in petrol and diesel, and di jump in costs since di start of di Iran war don increase pump prices for motorists across di world.

For Nigeria, di pump prices of petrol don dey near N1,400 per litre for many parts of di kontri.

Since di start of di war of US and Israel wit Iran, di price of petrol don rise for Nigeria, plus oda kontris for di continent. Di exit of di United Arab Emirates from di Organisation of di Petroleum Exporting Countries on Tuesday, also worsen di petrol crisis situation.

From $105 per barrel on Monday, Brent crude bin jump to $118 on Wednesday.

Dangote Petroleum Refinery bin increase di price of petrol from N1,200 to N1,275 per barrel, according to reports.

Di price data wey BBC News Pidgin gada from Petroleumprice.ng show say di refinery don raise dia petrol loading price from N1,200 per litre to N1,275 per litre, while coastal supply prices go up to N1,215 per litre.

Di refinery also increase di ex-depot price of Automotive Gas Oil (diesel) to ₦1,800 per litre, up from ₦1,750. Dem don suspend loading operations for di facility, Petrolprice.ng report.

According to inside sources wey Petroleumprice.ng follow tok, dem say di suspension of loading bin take effect around midnight, wey halt diesel allocations to marketers.

Also, Kenya bin sharply raise di cost of petroleum, wit diesel prices rising by a record margin despite one fuel tax cut, as di conflict for Iran push up global oil prices.

For dia latest review, di energy regulator raise di cost of diesel by 40 Kenya shillings to 206 ($1.6; £1.2) a litre, while petrol rise by 28 shillings to a similar level. Dem say dis reflect higher global oil and shipping costs, even as di govment don reduce di value added tax to 13% from 16%.

Di new prices go last until 14 May wen dem go review di prices again.

For UK, petrol currently cost an average of 157p a litre, according to motoring group RAC, wey dey 24p higher pass wetin e be bifor di start of di war.

Diesel dey at nearly 189p a litre, up 46p compared wit dia pre-war price.

US-traded West Texas Intermediate crude oil bin also go up, up by 2.3% at around $109 a barrel.

Di current Brent futures contract for June delivery go expire on Thursday. Di more active July contract bin dey up by about 1.7% at around $112 a barrel.

Futures contracts na agreements to buy or sell asset at a set date.

Oil traders don quickly react to di possibility of further military action for di Gulf, economics professor Yeow Hwee Chua from di Nanyang Technological University tok.

Small chance of di conflict escalating go get "outsized implications" on global energy supplies, e tok.

US tok say dem go blockade Iranian ports for as long as Tehran continue to threaten vessels wey dey try use di Strait of Hormuz, severely disrupting global energy shipments.

Iranbin retaliate against US-Israeli airstrikes by threatening to attack ships for di waterway, through which about a fifth of di world energy dey usually pass.

Oil prices go up by 6% on Wednesday following reports say Washington dey prepare for an "extended" blockade of Iran.

"E be like say escalation for di war don return, be it in di guise of di US continuing dia blockade for Iran, but also reports and rumours wey say in order to get out of dis mata, Iran fit start to strike again," Naveen Das, senior oil analyst for Kpler tok.

E tell BBC Today programme say oil price approaching $125 na di point wia businesses and politicians "go start to fear".

E say di increase in prices of oil get "knock-on effect no be only on oil, but oil-related products, inflation and basically every factor of our day-to-day lives".

BBC understand say energy executives meet Trump on Tuesday to discuss ways to limit di impact of di war on US consumers, wey dey fuel concerns for di market about extended disruption to energy supplies.