Petrol $8 a litre within ten years?

Submitted by admin on Sat, 22/11/2008 - 16:35

PETROL could hit $8 a litre within a decade as oil production begins to dwindle and demand continues to soar, a CSIRO study to be released today says.

The study, Fuel For Thought, warns this would add up to $220 a week to the cost of running a medium-sized passenger vehicle by 2018, resulting in severe social and economic consequences.

The only way to ward off such a scenario was for "fuel and vehicle manufacturers to quickly ramp up alternative [fuel] supplies and technologies". Read more.

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