While politicians wage wars, it is once again ordinary people who foot the bill.

The price of Brent crude, which hovered around 62 dollars a barrel before the escalation of the conflict between the US and Iran, has now climbed to roughly 85 dollars. That is a jump of nearly 37% in just a few weeks.

This does not mean every product will instantly cost 37 percent more, but it does mean almost every product and every service will face extra price pressure. Oil is the backbone of the global economy - from the transport of food, raw materials and medicines to the production of plastics, building materials and practically every industry there is.

When fuel gets more expensive, transport costs rise. When transport costs rise, so do the costs for producers. And once those costs are passed on to the end consumer, shop prices head straight back up. It is the kind of Balkan arithmetic everyone here already knows by heart.

An added problem is that the market does not react only to the current situation, but also to the fear of what comes next. If the conflict drags on and leads to bigger disruptions in supply through the Strait of Hormuz - through which a significant share of the world's oil trade passes - prices could climb even higher.

At the same time, if reserves start shrinking faster than they can be replenished and deliveries are restricted, that could pile on even more pressure. Analysts warn that, should the conflict deepen, the price of a barrel could push above 100 dollars.

In the end, wars are not felt only by the countries at war. They are felt by everyone who fills up their tank, buys bread, pays for transport, builds a house or manufactures any product at all.

History shows one rule that rarely changes - when the price of oil rises, almost no one stays immune to the consequences.