Oil prices have continued to rise in the wake of the renewed conflict between Iran and the United States.In Asian trading on Tuesday Brent Crude has climbed a further another 1.5 percent to US$84.50 a barrel.Earlier in the day oil prices spiked over 9 percent on news that US President Donald Trump was planning to impose a 20 percent levy on the cargo of ships travelling through the Strait of Hormuz.Oil prices are now back to levels last seen a month ago.Prices reached nearly US$120 a barrel after hostilities broke out at the beginning of March.There has been little reaction yet to the recent surge in oil prices at the pump in New Zealand.According to fuel monitoring website Gaspy the average price of a litre of is $2.94.However AA spokesperson Terry Collins has said prices are likely to have got as low as they are going to get in New Zealand for now.