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Why is filling your tank costing so much?
Business Daily
May 4, 2026

Getting a barrel of crude oil out of the ground in Saudi Arabia costs around $25. The market price right now is around $95. So where does that $70 go - and why has the price at the pump jumped so sharply since the war in the Middle East began?

We follow the money behind a tank of petrol: from the oil field, through the world's most dangerous shipping lane, through the commodity markets, through a refinery, and right back to you, waiting at the pump.

We hear from the former Saudi Aramco executive who oversaw production of the world's largest oilfield, one of the world's biggest tanker operators making real-time decisions about whether to sail through a war zone; the chief economist of one of the world's largest commodity traders; and an energy analyst who has been tracking the refining crisis that most commentators have missed.

What product do you want us to follow next? Get in touch with the team by sending us an email to [email protected]

Presenter: Sam Fenwick Producer: Matt Lines

(Photo: A worker pumps gasoline into a car at a petrol station in Bangkok, Thailand, on the 26th of March 2026. Credit: Rungroj Yongrit/EPA/Shutterstock)

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If you'd like to get in touch with the team, our email address is [email protected]

Business Daily is the home of in-depth audio journalism devoted to the world of money and work. From small startup stories to big corporate takeovers, global economic shifts to trends in technology, we look at the key figures, ideas and events shaping business.

Each episode is a 17-minute, daily deep dive into a single topic, featuring expert analysis and the people at the heart of the story.

Recent episodes explore the weight-loss drug revolution, the growth in AI, the cost of living, the economic impact of the war in the Middle East, and why bond markets are so powerful.

We also feature in-depth interviews with company founders and some of the world's most prominent CEOs. These include Google's Sundar Pichai, Wikipedia founder Jimmy Wales, and the CEO of Canva, Melanie Perkins.

Presenter: Sarah Rogers Producers: Bisi Adebayo, Victoriya Holland and Jay Behrouzi

(Photo: Lamis al-Hashimy. Credit: Lamis al-Hashimy)


17min 58sec


Why is filling your tank costing so much?

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