Barbadians are being warned to brace for a likely increase in the price of fuel as a result of the newly-declared war in the Middle East.

Global oil and natural-gas prices jumped after the surprise weekend attack on Israel by Hamas and the Israeli response risked stoking instability in the petroleum-rich Middle East.

The prices gains came as Israel launched a powerful wave of attacks on Gaza in response to the biggest assault by Palestinian militants on the country in years.

However, University of the West Indies Professor of Finance and Pro Vice Chancellor, Dr. Justin Robinson, expects the price impact on Barbados to be less severe than oil crises of the past.

But he believes that even if the impact isn’t immediately severe the war could drag on like the Ukraine conflict.

University of the West Indies Professor of Finance and Pro Vice Chancellor Dr. Justin Robinson.