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End of World is nigh: Petrol to cost $8 a litre by 2018?

And you thought $1.70 was bad. A new report issued by the Australian research institute CSIRO warns that the price of a litre of petrol could soar as high as $8 AUD within the next decade if current fuel consumption and production trends continue.


And you thought $1.70 was bad.

A new report issued by the Australian research institute CSIRO warns that the price of a litre of petrol could soar as high as $8 AUD within the next decade if current fuel consumption and production trends continue.

The aptly-named Fuel For Thought study believes that unless something is done to address the world's escalating demand for fuel, prices for the commodity are just going to spiral ever upwards as oil reserves run lower and lower

Not only does this spell disaster for us petrol-lovin' hedonists, but the global economy would surely grind to a halt once fuel becomes so prohibitively expensive.

ABC News, image courtesy of Village Roadshow]

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