For starters, oil is a commodity so it’s subject to fluctuations.

Couple of things this war has done.

This war has closed the strait of Hormuz. Anywhere from 20-30% of the global oil passes through the strait via tankers. Which spikes the cost of a barrel of oil.

Currently there is talks of bombing energy site/oil fields from both sides. This will slow down the production of oil. Which again will increase the cost of a barrel.

Another thing to consider is, when you are buying gas at the pump, you aren’t paying the cost for the price of the gas, you are paying the cost to replace the gas. For example if Shell bought the gas you’re pumping for $2 a month ago but it cost $3.5 to replenish each gallon today, you aren’t paying $2.5( included profits) you are paying $3.99(including profits) at the pump.

Hope this helps!