A quick thrash of the calculator shows that £1 per liter works out to a sky-high $6.88 per U.S. gallon. This prediction comes from someone who knows whereof he speaks - Lord Browne, CEO of British Petroleum (pictured at right). In an interview with the BBC, Lord Browne said that prices could well pass the pound-per-liter benchmark if crude oil prices continue to rise, adding, "We're not passing anything like the complete effect of crude oil prices onto the consumer."
Meanwhile, BP reported first quarter profits of $5.265 billion.
With President Bush sweating at the prospect of $3 a gallon prices at U.S. pumps, he must be glad he's not in Tony Blair's shoes.
[Source: BBC. Image courtesy BP]
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