Buffalo milk on average has 7.2% fat content explaining why option 1 is correct. To break down the other options:

Option 2 is inaccurate because the fat content of buffalo milk is greater than 4.5%.

Option 3 and 4 are too high. Although buffalo milk does have a higher fat content than cow`s milk, it does not reach the levels suggested by these options. The fat content lies in between these extremities; not too low as suggested by option 2 nor too high as indicated by options 3 and 4. Hence, the most accurate option is 7.2%.