Oil – the next shock waiting in the pipeline

While Gordon Brown is playing musical chairs on the deck of the Titanic, normal people are worrying far more about paying their bills.

Motorists will have noticed that we are back up to

We may have not yet reached the heady heights of last summer, but the trend is unmistakable.

Even in a recession, there is the danger of inflation for some essential products such as petrol.

Stagflation is back – and perhaps, not too far off, another ‘oil shock’.