fuel price predictions

I am surprised that the current fuel price is not hitting headlines more often and that there is not more unrest about it generally. People are complaining and some are cutting back, which is good, but given the massive rise during the last year I'm surprised people aren't marching on Downing St.

Oil hit $129 a barrel today, an all time record. Diesel is up to £1.29 at some stations in Kent, and the two seem to be using and following the same digits, quite bizarrely! Peak oil is here to stay and prices are impossible to forecast but there is certainly won't be any short or medium term let up in the rising price, although there will come a point where it can't go higher.

Certainly I wouldn't be surprised to see oil hitting $160 and diesel £1.60 by Christmas. My investment tip, buy a bicycle...