Yip, US$120 + per barrel and likely to get worse. Prices have jumped some 30% this year and these kinds of prices were last seen during the early 1980's. With current global expansion, I can't see it getting any better - can you? So, as time moves on, you get the first factor which influences price - that of rising demand. Then, the resulting decreased stocks (and decreasing stocks) factor number two kicks in. Then we move onto factors such as (a) the producing cartel (OPEC), (b) Oil Speculators (c) Instability in the Middle East and (d) Refinery problems - the latter of which we know all about in South Africa - fuel shortages at Airports
We need a renewed - or better still - new fuel resource!