How to Deal with High Oil Prices?

Good morning friends.

As we know that oil is not a renewable energy.

It is purely depended upon demand and supply. If demand is more then the supply becomes less when supply becomes less its prices automatically increases.

Another reason for hiking the price of oil is that our currency becomes weak day by day.

So, in my opinion, we mostly used the public transport, use bicycle, use battery vehicle and reduced the non-essential use of a vehicle.

Hi,

The best way to deal with high oil prices will be to increase domestic crude oil production and decrease the quantity of crude oil imports. Electric vehicles can also be another option but it will take a long time to hold the market due to unavailability of charging infrastructure and high battery costs. So, currently the Government should take steps to increase domestic production so that our dependency on other country to meet the demand is curbed out.

We need to reduce single-vehicle user tendency, must use our vehicles on a collective basis, Shifting to electric and CNG based public transport. More wind power & nuclear power generation, Enhancing indigenous oil production.

Hi,

The best option for this is to switch to renewable sources of energy instead of petrol and diesel but at present, due to lack of infrastructure required for the electric car, it can't be implemented at sudden.

So other options which are simpler to apply are the use of public transportation, use of the bicycle for a shorter distance, prefer two-wheelers than four wheelers if possible.

From Government side, they should improve the number and capacity of public transportation, the introduction of pod taxi project in various cities will be effective, proper traffic management system along with construction of flyovers and expansion of the existing road, improve the strength of rupees.

By significant effort by government and public the prices of oil can be stable for present time and might be lower when electric cars will run on Indian road without any difficulties.

Hi friends,

According to my opinion, we have to follows some steps to overcome from the higher prices of oil -.

1) We have to reduce the use of vehicles such as bikes, cars. Which are run by petrol, diesel. Because these are non-renewable resources and can't be reused.

2) we have to use CNG gas in place of oil which is cost effective.

3) Our govt has to take action in the field of research of petrol. If our country will succeed in finding oil then it will make India a self-dependent country and also reduces the cost of petrol.

Thanks.

In present days, oil prices are high because the hypocrisy of government. Government doesn't want to reduce the taxes on oil because they feel reduction in oil prices will reduce national revenue. Meanwhile we know that oil prices are decreasing in international market now a days but government doesn't want to reduce even single rupee tax on oil prices. Government need to bring oil under GST and people also try to use renewable form to energy to decrease dependency on oil for energy.

Increasing rate of population also responsible for the oil price hike, because increase in population increase the demand, if demand will increase and supply will decrease the price will obviously increase. So dear Indian please have a better family planning this will save the future generation, we are always busy for now but blind for future. Govt also trying hard to produce renewable fuel produced by biodegradable fuel. We should use public transportation system. We should use electric vehicle. Due to price hike also our rupee value is decreasing compared to dollar, so it is our country and it is our duty to be less dependent on the fuel and try our best to consume the less fuel.

In order to deal with the high Oil price in india, First we have to limit our dependency on gulf countries.

This can to some extent be done by purchasing oil in limited quantity and mixing it with some ethanol.

For this we need raw material to produce ethanol. And it's production can be boosted by Encouraging the growth of sugarcane and various other plants.

This will not only help in reducing price of fuel but also help Indian farmers to get good prices for their produce.

Manufacturiing of other technologies for Transport like electric cars must be encouraged by Government of India and used to large extent. Eg in delhi there are e-rickshaws.

The price of the commodity increase when there is huge demand for it. Why don't we use Public transport instead of our own vehicle. ? it will not only reduce the pollution but also reduce demand thus help in reducing foreign import of oil.

A go-to measure for the Indian government to counter the rising fuel price is to cut back on the taxes. Currently, the center levies a total excise duty of Rs 15.33 per litre on diesel and Rs 19.48 per litre on petrol. In addition to this, different state governments charge their own VAT.

VAT levied on fuel by state governments in India:

Bihar charges 24.71 per cent VAT on per-litre petrol and 18.34 per cent on per-litre diesel.

Uttar Pradesh takes 26.90 percent VAT on per-litre petrol and 16.84 percent on per-litre diesel.

If Central and State governments decide to cut back on these taxes, even by a slight margin, we could see a significant drop in the rising fuel price.

More you run from the problem, harder will it become to solve.

How are we running from the problem? By giving synthetic subsidies for last 70 years.

Is the problem solved? No, it hasn't and will become more dangerous in the future.

Why? Because we don't produce oil and we import 80% of it. We have no control over its price (only opec and USA have control).

Always remember, oil is the non-renewable source and its price will ALWAYS increase (coz of short supply of dollars, maybe because of sanctions against Iraq and Iran, or maybe because of depreciation of our currency). All in all we have no control over its increasing price.

So instead of giving temporary subsidy, the govt should invest that money in building world-class highways, over bridges and improved infrastructure. (more than 40% of diesel in trucks is wasted because of bad roads+tolls+traffic jams).

I have a bicycle and want to drive it, but driving it on roads is suicidal. Govt should make /plan cities more pedestrian and bicycle friendly, it will encourage people to use fewer vehicles.

I want to use buses but they are so crowdy, Use the money in buying and upgrading public transport. Make our cities more like Tokyo and not like new York.

Encourage companies which want to invest in electric vehicles (like Mahindra and Tata).

Govt must know oil prices will always increase and electricity prices will always decrease (invest in solar and wind power) once using e vehicles becomes cheaper than people are not fools we will use e vehicles because we love our money.

The government must know that the greatest wealth a human could possess is Health. (less pollution =healthy citizens =more productive economy).

Also, try to give some amount of subsidies on LPG, LPG is healthier to use than burning woods. But no subsidy on petrol diesel or CNG as they pollute the environment.

Investing in high-speed freight trains and waterways is also a good idea.

Last point but very important - - - increase the tax on sin products (like cigarettes, gutkha, pan masala, soft drinks etc) use that money in improving women health (LPG).

Last but not least - -Swatch Bharat Mission-- clean our nation let more tourist come in. Tourism is a great source to balance current account deficit.

So use money in permanent solutions and temporary.

These are long-term plan and will not be completed in 5 years. But remember NATION IS MORE IMPORTANT THAN GOVERNMENT. Take a tough stand.