Oil prices reached a record high on Monday reaching $143.67 a barrel, more than doubling in the last 12 months.

With the average price of Petrol @ 133.9c and Diesel @ 143.9c motorists are most certainly feeling the pinch.
Home heating oil too has seen a dramatic price increase with the cost of 1000 litres of kerosene at an average of €905 or 0.905 €/ltr up from €739.7 or 0.7397 €/ltr on 21st Feb 08 (prices not including VAT).

The president of OPEC Chakib Khelil has predicted that the price of oil …