Simple
It'll end when supply increases and/or when demand decreases. Uncertainty over supply due to Iran's current actions contributes to the problem. Iran is the 4th largest oil producer. If the UNSC applies sanctions on Iran then supply will drop. Meanwhile, some 25% of US production from the Gulf still hasn't been restored according to a news report I heard yesterday. Add to that increasing demand (China's economy is growing 10% a year and it is very energy inefficient) and basic economics shows that it's still valid.
Supply and demand isn't just a good idea - it's the law.