Australia’s gasoline prices could reach A$8 a liter ($29.13 a gallon) by 2018 if global oil production peaks and the country has not adequately shifted to alternative fuels, the Commonwealth Scientific and Industrial Research Organization says. “If there is a near-term peak in international oil production resulting in declining future oil supplies, (gasoline) prices could increase to between A$2 and as much as A$8 a liter,” CSIRO says in a report for the Future Fuels Forum, a group made up ...
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