How to Deal with High Oil Prices?

Oil price hiking is the burning issue in India from almost 6 to 10 years. Basically, the hike in pricing depends on import of oil & consumption of oil.

This can be reduced in many ways.

- One, by implementing the rule that one should not maintain more than 2 vehicles . which currently highly impossible in our so-called developing country.

If that rule is implemented, oil will be I reach to every citizen and obviously the importing of oil will be reduced to an extent.

- Second, by Finding more resources within our country. like oil to be dug out more in order to reduce importing oil. which is not as wise as it says.

- Third, Usage of solar and hydro machines. The basic installation cost is super high.But once you install the system, you will no longer use the petrol. so obviously you are independent to oil.

On the other hand, we have to improve our infrastructure for transportation and refinement of crude oil so when the oil prices come down we can have sufficient storage capability.

The topic is "How to deal with high oil prices", for oil prices higher or lower the reason is only the human being as if the family has five members & their earning capacity is good they all own one vehicle for satisfying their needs but there is only a small percentage of people who thinks about the environment & they even at the age of 60-65 try not to use vehicles, there are many ways to deal with this problem by use public vehicle rather than a private vehicle, even you can adapt electric vehicle, use CNG ars to reduce the air, noise pollution & even to deal with high oil pricing.

The government should increase the taxes on tobacco and such unnecessary products. So, the prices or deficit if any can be covered from there also, These are the solutions but if we are saying the prices are too high then also we are using vehicles the most bitter truth is that the rates are affordable then only everyone is using the vehicle. This is also important to know about.

Good afternoon everyone one,

As we all know the price of any product is depends on the demand and supply forces and the same is in the case of oil also. The demand of oil in India is very high as in India mostly in every family each member has there own vehicle, some are considering it as a status symbol also.

To deal with this we have to take the following steps such as:.

*We have to use alternatives like use of electric vehicles, CNG based vehicles, try to walk for shorter distance,

*Use of alternative means such as scooter pool, car pool, and use of public transport which will reduce use of fuel. Also pollution can be reduced as well as it also helps In management of traffic,

*For reducing our dependence on foreign countries for the fuel, we have to try to improve are technology and production techniques so that oil can be produced on India. This can be done through proper research and analysis.

Thank you.

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.

I am GOKUL KHANNA.

I believe the oil price can be controlled by two means. One of them is to reduce the demand and another one is to produce more crude oils. I don't think it's possible to produce crude oil since it's the gift for a human being. What we can do is to go for alternative methods like hybrid vehicles.

On top of all these, we must create awareness among people what is the economic background behind the oil we buy. Encourage then to carpool or to use public transports. By this ways, the demand for petrol can be reduced. More electric powered train systems have to be introduced. The bus fleets should be increased.

I hope by these steps people would choose to use the transport facility and reduce the demand for petrol.

But is this going to happen all over the world? So may be the new oil reservoirs has to be found. To meet the future needs.

Thank you guys.

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.

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.

The oil prices affect each and every sector of the economy through a direct or indirect channel. The oil price also affects the every entity in the economy. So a change in oil price affects an oil company's performance, a country's economy and customers saving and consumption behavior. If the general price for the oil is increasing then the customer has to pay more for less amount, which will reduce the consumer saving. The impact of oil price increasing on as a whole depend on the economic structure of the country, for example, the price increase will be beneficial for oil exporting country and a burden for oil importing country. For an oil company which is involved in the exploration process of the oil, a price increase will be beneficial. But if a company which business is involved only refining and distributing to the customer will be less profitable.

The price of petrol in India is higher than most of the countries in the world. The fact is that India imports huge quantity of petrol from the middle east and presently ink a deal with Russia of importing 2 million barrel crude oil. Thus it is clear that importing crude oil is one of the factors of high petrol prices. So basically to reduce petrol prices ; limited uses and also sustainable petrol consumption is required. Less use of private vehicles; more use of public transport ; high-efficiency petrol or diesel cars ; trucks ; buses and most importantly utilization of electric ; solar or CNG vehicles. Last but not the least more mode transportation by trains will reduce petrol prices significantly. As we know that prices of a thing depend upon supply and demand, Thus less consumption ie less demand will highly impact or reduce petrol prices.

Hello people,

We all know about the drastic increase in oil price nowadays. Why don't we use bi-cycles for traveling short distances? Apart from this, I have a doubt why people are importing oil from other countries when it is found in INDIA itself. Few corrupted politicians tied up with business people are illegal by taking false permissions are transferring oil to other countries and making money. If at all we can control this action, we almost met our goals of reducing its price.

I have even got another idea. It's like we have escalators to go from one floor to another and we have flyovers for convenient passage of cars. Merging these two why don't we have moving roads wherein one can travel nearby places without a vehicle instead of having a pedestrian.

By these ways, we can reduce oil price by 60%.

Thank you.