How to Deal with High Oil Prices?

Hello friends, I am Tanmay.

Yeah, I agree govt should take some initiative to lessen the consumption and there should be some technology like solar or electricity based vehicles, but somewhere electricity is again related to fuel and these are some intricate things to implement in a big rush, what I think is that we should not just perpetually speak out what should govt actually do to reduce the consumption that in turns will result in the reduction of the oil prices or there ought to be any technology or something, because every positive step or gambit start with us, so come to very basic we must lessen the use of vehicle just to go a few meters from the house, we should drive any vehicle below 40 km/h so that it can reduce oil consumption and these very small steps can make a huge difference, if all people take this as personal initiative. It's human mentality to follow what is going on in their surrounding and that will consequently make other people think positive too and they will also attract toward them. Just a single person need to take a step forward and everything will be in control, don't see others, you just enlighten the candles!

Good Day Friends.

Oil prices are reaching sky high in India day by day. What is the reason behind this? In the last decade, oil prices have not just gone up but it has gone up by more than twice of how much it was. What can be the reason? Bird's eye view of this is that the oil reserves are getting absorbed and exhausted. This not really is the reason. This hike has happened over a period of time. Just take the Law of demand and supply! Demand and supply are directly proportional i.e. Higher the demand, higher the supply. With respect to price, Higher the demand, higher is the price and lower the demand, lower will be the price and apparently the supply. It all started with the mass usage of automobiles in our country. It would only be apt to say, India's automobile usage is indiscriminate which has made the demand for oil high and eventually the prices have shot up. It all starts with us! We have to take the initiative to enlighten our co-citizens to make use of public transport in place of their own vehicles and to use bicycles for short distances. The youth of our nation can inspire the people in a positive way to impact the oil prices.

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.

Hi Guys,

As we all know that what is the role of demand & supply as demand goes up and supply goes down so usually prices go up. Just like this situation takes place because of "demand and supply". Day by day demand of such oil is increasing the stock because of multiple reasons like increasing numbers of vehicles and there are many other machineries which are useful for work only with help of oil. So if we really want to reduce the demand of such oil so there is need to work on it so that we can stop the hike of prices till a level. So the following stages would be effective to use. 1. Turn off your engine when the traffic light turns red. 2. Don't keep start your engine when your vehicle is not moving. 3. Going in your own vehicle when there is need to go with. 4. Use public transports as much as possible to go from one place to other. 5. Don't try to use extra machinery, use as per need. So with the help of these steps, we can reduce the oil demand in the market.

Using CNG gas is also a kind of power through which we can run our vehicles on the roads. So using CNG we can also control the hike in prices.

Thanks.

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.

In my opinion, We could deal with High oil prices by following means:.

1. Though electric and solar vehicles market is not so developed in a country like India. Try to use electric vehicles which are available in India like an electric scooter, solar two wheelers.

2. Don't use vehicles which are above 10 years old. As these are consuming more oil and also causing environmental pollution.

3. Govt should explore the alternate form of energy like solar energy, wind energy, nuclear energy, tidal energy for lowering consumption of oils.

4. Govt should incentivise peoples for using solar cells for pumping water, using solar energy in generator instead of diesel.

5. Walking to nearby places without using any two wheeler for less consumption of oil. It will indirectly also helps in physical activity.

6. Govt should ban high oil consuming vehicles like a sports car, SUVs etc.

7. Using public transport, share auto, share taxis, metro can reduce sufficient amount of oil consumption.

8. India should explore options where the cost of oil import will be reduced.

Thank you.

Hello everyone.

This is Aman Sharma here.

Simply we need to make some powerful rules for dealing with these problems which are-.

A) Make one rule which is based on age as we are following that the eligible age for voting is 18 years, so the government needs to compulsory it for driving or riding also.

Because we have seen that small -small kids are going to school with the bike instead of using cycle.

B) Unnecessarily, the goverment put charges on petroleum product while importing due to this when it approaches near to public it automatically gets on high rate. So we want actual charge sheet from the government to know the actual price after taxation.

C) We need to categorized the cities on the basis of consumption of petroleum products, and according to that conduct awareness program by central & state government for awareness and also about more n more use bicycle. For short distance.

D) Using of vehicle-based on battery, operating machinary work through electric, solar systems & hydro power can reduce this problem to some extent.

Thank you.

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).

Hi everyone,

1) The reason for the rise and fall of oil price is due to the imbalance in the equation of supply and demand. The consumption of oil is more than it is produced.

2) The dominance of few of the countries in the production and control of oil E.G OPEC nations. Thus they decide the price of the oil in the international market.

3) Competition among the oil producing nations.

In order to counter the above-stated problems, the possible remedies are as follows.

1) The use of an alternate source of fuel likes ethanol, biogas. This will reduce the demand for oil which will reduce the production of oil hence reduction in the cost of oil.

2) People should buy more of eco-friendly cars such as CNG, electric, hybrid because majority of the oil consumption is in this sector.

3) Use of public transport will reduce the oil consumption as well as pollution in the environment.

4) Carpooling would be a better option.

5) Govt should try to look for more oil reserves in India rather than importing from other countries.

Good morning everyone.

Today we are here to discuss on a topic "how to deal with high oil prices".

Firstly I would like to share the main reason for getting oil prices higher Our dependence on fossil fuels. Eg our day to day usage of petrol and diesel vehicles, dependence on machinery which works with oil. Because of this, our demand for oils get higher and prices of oil also get higher.

So for dealing with higher oil prices firstly need to lesser our dependence on high oil prices i.e. to use a renewable source of energy.

It can be used in various ways:

1. We should prefer that vehicle which works with battery.

2. We should prefer machinery which works work electricity.

3. Prefer Indian brand of olive oil for cooking.

For all these measures our govt is also doing investments eg:- pod taxi project, launching machinery's which works with solar power, metro project.

So if we follow these measures than not only the oil price will be controlled but our environment will also get eco-friendly.

Thank you!