Recently the energy market has witnessed rise in oil prices. The international oil price has reached to almost $3 and is expected to rise in the coming week. Similarly diesel prices have also increased to 5 cents leading it to $3.08. Analysts have confirmed that the future of the energy sector is at stake as energy consumption has increased and BP crises have hit hard the world markets’ energy sector and the losses faced by the company would worsen the market.

On the other hand, the consumers have boycotted the BP stations and protested against the company for its recklessness. The measures taken to clean sweep the oil spill are not enough. Shell, on the other hand said that the deep water drill should be continued to meet the market demands otherwise the oil prices may rise to new extents. The critics say that the price of oil has doubled since Obama took control of the administration which clearly shows that they cannot handle the situation properly.