The question that nobody seems to ask: what does this increase means for the economy of the rest of the world?
Quite a few answers can be found in the more-actual-than-ever best selling book "Why your World is About to Get a whole lot smaller: Oil and the End of Globalization" from acclaimed economist Jeff Rubin. Many lines of industries are directly affected by the current situation. The book was britten a couple of years ago but its content is still very valid, and I engage you to read it. Among many other things you understand that two industries more than others have a pretty tough year ahead of themselves: Tourism and Airlines. To illustrate this I will quote Jeff Rubin's book: "Most airlines need to see oil prices below $80 to so much as break even. All face operating losses at triplie-digit fuel costs. At over $100-per-barrel fuel costs, US airlines can expect to lose around $7 billion a year."
Many other things will obviously expect, but what is for sure is that the share prices of most major airlines and travel agency will most likely go down over the coming 12 months. So you should prepare accordingly: sell the stocks and buy put options which will see their value increase when the stocks prices fall.
To learn more about Jeff Rubin and his book go here.