Oil, gas and borrowing costs surge as fears over Middle East escalate
The price of oil jumps to $105 a barrel amid signs the Iran war will not be resolved quickly.
Read the original report at BBC Business.
Behind the pump price
One price. A few moving parts.
See where your fuel money goes, what changes it, and why the same litre costs more across a border.
At the pump, around the world
Compare all regions →AU
Australia
AUD 2.06
CACanada
CAD 1.87
EUEuropean Union
EUR 2.04
UKUnited Kingdom
GBP 1.64
USUnited States
USD 1.10
Local currency per litre. Dates and methods vary by source. Gasoline includes regular grades and European Euro-super 95.
Anatomy of a litre · United Kingdom
The price on the sign
is only the beginning.
Derived breakdownCrude oilGBP 0.4929.5% of price
Refining & distributionGBP 0.3521.6% of price
Excise & other dutiesGBP 0.5332.2% of price
VAT / sales taxGBP 0.2716.7% of price
| Component | Amount |
|---|---|
| Crude oil | 0.4856 |
| Refining & distribution | 0.3549 |
| Excise & other duties | 0.5295 |
| VAT / sales tax | 0.2740 |
Follow the money
01
Crude oil
A global market, paid for in US dollars. Exchange rates can change what a barrel costs locally.
02
Refining & distribution
Turning crude into usable fuel, then moving it to your station. Margins cover operating costs as well as profit.
03
How we calculate each part →Taxes
Fuel duties, sales taxes and local levies. Different rules help explain the difference across borders.
Biggest weekly moves
The weekly picture →Largest absolute percentage changes among available national and subregional observations, comparing dates 6 to 10 days apart.
At the pump, around the world
Compare all regions →AU
Australia
AUD 2.53
CACanada
CAD 2.51
EUEuropean Union
EUR 2.11
UKUnited Kingdom
GBP 1.86
USUnited States
USD 1.58
Local currency per litre. Dates and methods vary by source. Gasoline includes regular grades and European Euro-super 95.
Anatomy of a litre · United Kingdom
The price on the sign
is only the beginning.
Derived breakdownCrude oilGBP 0.4926.1% of price
Refining & distributionGBP 0.5428.9% of price
Excise & other dutiesGBP 0.5328.4% of price
VAT / sales taxGBP 0.3116.7% of price
| Component | Amount |
|---|---|
| Crude oil | 0.4856 |
| Refining & distribution | 0.5379 |
| Excise & other duties | 0.5295 |
| VAT / sales tax | 0.3106 |
Follow the money
01
Crude oil
A global market, paid for in US dollars. Exchange rates can change what a barrel costs locally.
02
Refining & distribution
Turning crude into usable fuel, then moving it to your station. Margins cover operating costs as well as profit.
03
How we calculate each part →Taxes
Fuel duties, sales taxes and local levies. Different rules help explain the difference across borders.
Biggest weekly moves
The weekly picture →Largest absolute percentage changes among available national and subregional observations, comparing dates 6 to 10 days apart.
A little context goes a long way
All explainers →california · 5 min read
Why California gasoline costs more
Fuel specifications, supply connections and policy costs help explain California’s price gap.
Read the explainer →exchange-rates · 6 min read
How the Canadian dollar changes your pump price
A worked explanation of the currency link between dollar-priced crude and Canadian fuel costs.
Read the explainer →refining · 5 min read
What a crack spread tells you about diesel prices
Why crude oil and finished fuel can move differently, and why a refining margin is not net profit.
Read the explainer →From the source
Latest news →United States on track for record crude oil production in 2026
We forecast U.S. crude oil production will average 13.8 million barrels per day (b/d) in 2026, surpassing the previous record of 13.7 million b/d set in 2025, in our latest Short-Term Energy Outlook (STEO).
Read the original report at EIA Today in Energy.
Buy now or wait and hope? Families face gamble on heating oil
The price of heating oil has almost doubled in 12 months following the conflict in the Middle East.
Read the original report at BBC Business.
Correspondence: Oil and gas: OPRED communications, 2026
OPRED communications issued to stakeholders in 2026.
Read the original report at DESNZ.