Soaring cost of oil

As the oil prices continue to increase - now at a record high of $135 a barrel - BBC business reporters assess the impact in their area.

SOUTH ASIA

The soaring oil price is having a "huge impact" on India's fast-growing economy.

By some estimates, Indian oil companies are losing up to $100m a day.

Karishma Vaswani, the BBC's India business correspondent explains how susidies work in the Indian market.

EUROPE

The rising cost of fuel is one of the factors behind higher food prices across Europe, with higher transport costs forcing manufacturers to charge more for their products.

The BBC's Europe business reporter Duncan Bartlett explains how rising fuel costs are linked to the price of chips.

ASIA PACIFIC

Sky-high oil prices are sending "major shockwaves" through the economies in the Asia-Pacific region.

The rising fuel costs, coupled with the high cost of rice, are pushing inflation rates to levels not seen for decades.

Singapore business reporter Juliana Liu reports.

FUEL ALTERNATIVES

Why is the government insisting on the use of biofuels in petrol when even some ministers are voicing their concern? Jackie Long reports.

FROM THE ARCHIVES

In 1974 drivers in Britain were forced to adhere to new speed limits in an attempt to save fuel.

In 1973 there were long queues at many petrol stations as people raced to fill up their cars after fuel was rationed.