Comment by joering2

None. But you don't put a non refined cruide oil in your diesel, it not only has to be refined but DELIVERED to your country. Depending where that country is, delivery could be even 60% of the final price. And when, you know, tankers with oil explode due to drone attacks, you will see quick large spikes in pump price.

EDIT: also, oil is a commodity traded worldwide, and downside of this is the price of oil is directed by future contracts bet on said oil. In other words, if enough people assume there will be future upticks related to raising cost of transportation insurance, they buy more futures. If they buy more of this virtual contract on price going up (called "long") then eventually real price of oil catches up. Sure, this is upside down, but markets live in this setup for many years now where tail wags the dog.