Among the factors driving prices higher are rising demand because of the global economic recovery and cold weather in Europe, as well as the weak US dollar (http://mkb-cc.yanksrule.co.uk//Forum/smileys/sad.gif)
Many banks ( some of the ones we own ) have recently raised their forecasts for the oil price over the next year to $147.50 - another self for filling ( pun intended ) prophecy (http://mkb-cc.yanksrule.co.uk//Forum/smileys/rtfm.gif)
(http://www.bbc.co.uk/news/business/market_data/chart?chart_primary_ticker=ICEEUR:BRN&chart_time_period=1_month&canvas_colour=000000&primary_chart_colour=CC0000&use_transparency=0&plot_colour=ffffff&cp_line_colour=1F4F82&margin_left=35&margin_bottom=20&margin_right=20&time_24hr=1&tiny_chart=1&tiny_month_view=1&logo_strength=light&y_axis_left=1&x_axis_plain=1&cp_line=1&cp_line_style=dotline&charting_freq=1_minute&co_dimension%5Ewidth=629&co_dimension%5Eheight=190)
Petrol prices have hit a record average level of 121.76p today for a litre of unleaded petrol (http://mkb-cc.yanksrule.co.uk//Forum/smileys/down.gif)
http://www.bbc.co.uk/news/business-11968437
My dad had to pay £1.38 a litre up north the other day