How to Deal with High Oil Prices?

I think that the government alone can do very little to reduce the oil price. It's the consumers who need to understand that if we keep on using oil at the present rate then our future generation will face a huge scarcity and also excessive use of oil is leading to pollution and global warming. So my point is that we need to cut down the usage of oil by,

1. Using public transport more
2. Using solar energy whenever possible
3. And using cycles while going markets near our home, this will also help to improve our health.

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.

In my point of view, oil prices are rising because of using large vehicles and factories which run with help of oil. In order to decrease the oil prices, we should move to solar, electrical and wind technologies.

Moreover using this oils will produce toxic gasses which damaging the ecosystem.

Solution to any problem is within the problem. We know that we can't achieve anything until or unless we don't make any efforts for that problem. So it's not only the government who should take care of all the mishappenings in India. We are also part of this country and many
of you must be thinking what we can do for that, how can we be a part of solving that issue.

This can be done in following ways:

- Guys opt for CNG vehicles rather than petrol/diesel variant.
- Carpooling is not a bad idea.
- Rather than why not use a Public Transport.
- Get your vehicles maintained regularly (because more unmaintained the vehicle more consumption of oil i.e. more demand so more hike in price.

My personal experience doesn't fuel your tank in multiples of Rs 10 or 5 (they have all settled for that) opt for 90, 198, 297 it will help for sure.

-And last not the least never sit back and wait for things to happen, make it happen after all you are the one who has to suffer the consequences, not the government (especially Indian government).

High oil prices can have big effects on the economy.

The transportation charges will hike. So, the common man may opt for public transportation or a shared ride. The consumption of products will be reduced as the prices rise. So, the government and industries will be forced to look for alternative ways to stabilise the economy. Make in India should be effectively implemented. Exports should be more than imports to reduce tax burden on people and keep the economy going. Government can take this as an opportunity to promote electric vehicles. The government should support enterprises that may be on the verge of shutting down. Both the government and industries should come together to work on other energy sources like solar energy, wind energy, hydro-electric energy, etc. For future reference, manufacturing units should be set up in coastal areas for easy transportation.

Good afternoon everyone.

I am Akash.

The rapid rise in oil price is a big problem all Indians are facing currently. There are ample of strategies to cope up with this crisis. I would like to mention three of them:

1) Prefer public transport over private transport. Use carpool. This will not only cut down your expenditure on oil but also cut down your car maintenance expenditure. It will decrease pollution also.

2) Research should be done to bring in more fuel-efficient and light vehicles. This will decrease the consumption of oil.

3) Rather than importing oil from foreign countries India must start producing its own oil. Research and technology can help in achieving that.

So, I conclude oil is essential commodities for all of us. As soon as the COVID-19 led lockdowns were relaxed, oil prices increased rapidly. People resorted to private transport over public transport because of the COVID-19 fear. Oil is a major source of Government to generate revenue. The government must subsidize oil price for poor people. So, It is the hand of government and people to mitigate this high oil price crisis.

Hello friends,

We all know that the oil resources is limited in nature and one day it should be abolished, rather than the focusing on more on the oil resources we should find out the alternative solution, as we know that we are largest producer of sugarcane, and from the sugarcane we found out the ethanol which is the good alternative to oil many countries like America, Russia, and Brazil using this ethanol in transportation so when the other countries using these resources why should we are not using it?

Hello fellow members.

In my opinion, consumption of oil will increase with increase in production and growth of the economy and reducing the imports or reducing our consumption of it may not prove to be very helpful. Thus, in order to deal with high oil prices India can make strategic alliances with the cartel to obtain oil at cheaper prices moreover it can barter it with some service or good. Moreover, price rigging and corruption are the main reasons behind the high prices apart from the forces of demand and supply.

India should go for alternate sources of energy and invent technology for using bio-waste instead of oil, it will be the cheapest and help India in waste management as well. Moreover, solar energy or hydro energy should be put to a better use.

The rapid rise of oil prices is a very big problem for us. It has many reasons for rising prices day by day. At present time all family members have there own vehicle. Some people thinks that it shows his status. There are such ways by which we can stop the prices - prefer public transport over private transport. It will reduce pollution also. Use alternatives like electric vehicles and CNG based vehicles. Instead of importing oils India must work towards producing its own oil.

When we talk about oil prices, We should first focus on the India's economic position in the oil sector. India always being an importer of oil, though India has vast reserves of oil in some of the parts but that is not enough to fulfill the need. Recently the surge in oil prices affected the oil exporter and producer countries that include OPEC countries and Russia but India still facing the Problem of high oil prices because there is no such surging in imported oil to India. So, to reduce oil prices, India should focus on exploiting its new oil reserves found near Rajasthan and Gujarat and should focus on efficiency of ultimate recovery of oil from the pre-existing fields like Bombay high, Digboi etc. Narendra Modi's vision of "Make in India" should be extended to "Produce in India" for oil sector.

If Indian government should focus on the non-conventional energy source then it will also help in reduction in oil prices because of the Supply-demand concept. What I m trying to say is if we use the non-conventional energy then the demand for oil will reduce that will force the exporter countries to reduce their oil prices for INDIA.