The area I am in has similar gasoline prices. It is $2.75 / gallon for regular unleaded and about $3.00 / gallon for premium. Unfortunately, LPG (or propane in the US) isn't readily available as an automobile fuel in my area. I know industrial vehicles use LPG; however, I have never seen it used in an automobile.
I have read that ethanol can be used in automobiles with few modifications. Like Dar83501 mentioned, the fuel system needs to be modified so the seals aren't attacked by the chemicals in ehtanol. Other than that I think all you have to do to a carbureted vehicle is change the jets, and tune carburetor. I have also heard that synthetic oil should be used with frequent oil changes because ethanol causes the oil to deteriorate faster than gasoline. This is all stuff I studied in college, it has just been awhile.
BTW, that is an AWSOME car. I like the tail lights and the color!
