Report Petrol Prices - They Are Rising Every Week ? in House prices and the economy Posted November 6, 2009 Last summer they took us up to £1.20 a litre, and people did not squeal too much. That figure will now be the new 'target' for the fuel retailers, and we will no doubt be back there soon, and then off into new exciting uncharted territory. Expect the usual justifications, from bad weather in the Gulf to social unrest in Iraq. In the winter, 'cold weather will increase the demand' for oil- price rises of course. In the spring, it is the start of the 'motoring season' in the USA, increasing demand for oil- prices rises again naturally. No mention of maximising opportunities for super-normal profits, for the colluding cartels, and higher tax revenues for a bankrupt UK government.