Business
Why are petrol and diesel prices rising again?
Crude oil is a key ingredient in petrol and diesel, which means that higher wholesale costs make filling up a car more expensive. The price of petrol and diesel is also heavily influenced by demand and refining capacity.
Analysts say every $10 (£7.44) per barrel increase in the oil price pushes up pump prices by roughly 7p a litre.
Since the war began, the price of a barrel of Brent crude – the global benchmark for wholesale oil prices – has been very volatile.
Generally speaking, news of further conflict drives the price up while hopes of an end to the war pushes the price down.
Before the conflict, Brent was about $70 a barrel, but the fighting saw it peak at above $120.
In early July, after the framework deal was signed, prices fell back to near the $70 a barrel mark.
When the peace talks collapsed, the price climbed back up again to above $100 a barrel. It fell back for a few weeks but is once again over the $100 mark after a fresh escalation in hostilities.
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