Oil price skyrockets

Over the past four weeks the cost of crude has sky-rocketed to its highest level since 2008, pushing up petrol and diesel prices, Richard Davis reports.

Over the past four weeks the cost of crude has sky-rocketed to its highest level since 2008, pushing up petrol and diesel prices, Richard Davis reports.

Political and civil turmoil in the Middle East have been a decisive factor.

The US government is even considering tapping into America's oil reserves to arrest prices: 727 million barrels stored in the Gulf Coast in case of an emergency.