As we move into summer, the back has finally broken on the oil prices and the trend is most definitely down. The 2 cogs in the wheel are refineries who are charging more to refine the oil into fuel (expected as many of them were losing money and several went bust in past 12 months) and the US dollar which continues to strengthen (currently just over $1.26) and may move towards $1.20 if the eurozone crisis continues. The currency change has cancelled out $6 of the recent price drop when converted to Euro which is why €1.60 has not broken on the forecourt just yet.
But as they say, the trend is your friend and this one is definitely down. Look for average prices to stay a little above €1.60 for another week or two on petrol and look for about 1.52 on diesel.