[USMA:29782] Petrol prices

[MightyChimp]

Over the past few months the cost of petrol in the US has been approaching record levels.  Prices in my region, depending on grade range from 0.50 $/L to 0.60 $/L  an increase of 0.10 $/L compared to a few moths ago.  Has the prices been increasing outside the US too?  I was wondering if the rise in US prices is to bring the US prices subtely up to world levels of about 1 $/L  to 1 �/L.   Could all of you who post here let us know what the cost of petrol is in your market and if it has increased somewhat in recent months?   I've been hearing some reports that oil reserves will reach a peak around 2010.  Meaning that after 2010, the demand for oil will be greater then supply. This is the main reason the US wants to control the major oil fields of the world.    One thought that came o mind is that as oil supplies dwindle, wastefullness will become costly.  In the past the US could afford to be wasteful and thus the use of two measurement systems and the errors and costs they impose on the economy could be easily paid for.  But maybe not much longer.  Does anyone have any ideas on what we can expect as far as the metric/FFU issue in an era of restrictive energy supplies?   Euric