Fern Energy chief executive Chris Gourley says crude oil has lifted 20% to about $85 a barrel in two days, after the United States re-entered conflict with Iran and escalated tensions in the Strait of Hormuz.

He says that could add a 10 to 15 cent increase at the pump within a week, though supply is not the worry.

“Supply is still not a risk at all at this point.”

He says farmers should not race to fill their tanks.

“You’re better off just to buy your fuel as you normally do, keep a couple of months storage on farm.

“The only certainty we’ve got in fuel prices is volatility.”

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