They are likely to rise as fossil fuels become more scarce, yes.
Yes, it is inevitable that a smaller supply and greater demand means higher prices. Many scientists think that the worlds supply of oil is at least half used up. We have obviously extracted the oil easiest to get first. As we start to run out of oil it will become profitable to drill for oil in more remote places, which raises the cost/price of the oil.
I think the price of oil simply cannot go anywhere but up.
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