Oil prices have soared in recent days amid fears of a global oil shortage, a fear that has already begun to prove real.
The sanctions imposed on some of the banks in Russia make it very difficult for Russian oil companies to sell the oil - which produces a real shortage.
Oil is trading at a 14-year high of around $ 132 a barrel.
The rise in oil prices was already felt in the pockets of Israeli drivers at the beginning of the month, when the price of fuel jumped to NIS 7.05 per liter - a record of almost eight years.
Each refueler already pays between 15 and 20 shekels more for each refueling.
If the price of oil remains at its current levels even at the end of March, then the price of fuel will jump to eight shekels per liter - an all-time record.
What else will be more expensive?
The price of fuel affects a great many factors - from refueling the vehicle to the expenses of the food suppliers who have to transport the products from the warehouse, airport or port to the supermarket - which can also make all the products more expensive for consumers.
While this is a relatively low impact and is not reflected in the immediate term, it is important to be aware of it.
Most crude oil is produced from most types of liquid fuels - such as fuel for car and aircraft engines, fuel for industry and fuel for generating electricity at power plants.
In addition, crude oil is used to produce various plastic products, and more.
This means that in parallel with the rise in the price of oil, flights, public transportation, electricity and various plastic products may also increase.
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