Oil hits $100 a barrel - here are 5 ways your wallet could feel the pain

oil price impact on everyday expenses: Oil prices have surged above $100 a barrel due to escalating conflict involving Iran, impacting global markets and raising supply concerns. This price hike is already leading to higher gasoline costs and is expected to increase expenses for transportation, groceries, home heating, and various household goods as oil is a key component in their production and distribution.