The future of transport fuels: challenges and opportunities “A new report by the CSIRO has warned the cost of petrol could rise to as high as $8 a litre in the next 10 years. “The Fuel for Thought study by the Future Fuels Forum says that would be the worst-case scenario if oil production does not keep up with increasing demand. “Petroleum engineer Phil Hart from the Australian Association for the Study of Peak Oil and Gas believes it will not be long before the demand for oil will outstrip supply. “”Oil production has been essentially flat since 2005, and we have only another couple of years at this same sort of level of production before we start seeing oil production going into decline,” he said.” You can read this article on the ABC website. The Fuel for Thought report is available from the CSIRO website.