The agreement at the European summit surprised many and has led to a spike in oil prices pushed on by geopolitical issues in Iran.
The fundamentals still suggest a lowering trend especially if Chinese economy starts to cool. However fundamentals don't always affect the oil market as they would a normal market.
The increase to $100 will mean that any short term reduction this week will be gone next week as refinery prices are at approx. 60.5c/litre for unleaded and 63c for diesel - leading to retail prices of circa 1.61 for unleaded (based on duties 59c, dist/retail 10c, vat @23%) and 1.50 for diesel (based on duties 48c, dist/retail 10c, + vat @23%)